LPL Financial Launches No-Transaction-Fee, Exchange-Traded Fund Network

CHARLOTTE, N.C. – Dec. 5, 2019 – LPL Financial LLC, a leading retail investment advisory firm and independent broker-dealer, today announced the launch of a no-transaction-fee, exchange-traded fund (ETF) network where advisors can trade ETFs for free in advisory accounts. Inaugural partners in the network include three of the leading ETF providers – State Street Global Advisors, Invesco and WisdomTree—with the new pricing effective Dec. 6.

“We are able to use our scale as a strategic lever to drive pricing. By partnering with leading ETF providers State Street Global Advisors, Invesco and WisdomTree, LPL advisors have access to a compelling, competitively priced selection of ETFs to choose from to suit their clients’ needs,” said Rob Pettman, executive vice president, Investor and Investment Solutions, LPL Financial. “As a custodian in the expanding RIA marketplace, we will continue to invest in platforms as well as the technology and service experience to do more than lower costs, but create value with advisors.”

Free ETF trading with State Street Global Advisors, Invesco and WisdomTree will be available on the firm’s Strategic Asset Management and Strategic Wealth Management platforms, designed for corporate RIA, hybrid RIA or RIA-only advisors.

“We believe in the power of advice and helping advisors achieve the outcomes they seek for their clients,” said Sue Thompson, head of SPDR® Americas Distribution for State Street Global Advisors. “This move by LPL eliminates transaction charges on purchases and sales of our ETFs on their platform, helping advisors and their clients save more and simplify their total cost of ownership equation.”

Jarrett Lilien, WisdomTree President and COO, said, “WisdomTree is very excited to be participating in LPL Financial’s new transaction-free ETF network. We understand the importance of partnering with firms to provide greater ETF accessibility. The breadth of WisdomTree’s Modern Alpha™ ETFs provides advisors with the core building blocks to construct complete portfolios without incurring trading costs."

The announcement is part of LPL’s multi-year strategy to lower pricing and further increase the value of the firm’s advisory platforms. Over the last several years, advisors experienced enhancements to LPL’s platforms including:

• Expansion of its no-transaction fee mutual fund network for participating funds on both its corporate RIA and hybrid RIA platforms, including the elimination of ticket charges in certain qualified accounts;
• Simplified and reduced pricing on its Strategic Asset Management platform;
• Elimination of strategist fees for LPL Research on LPL’s Model Wealth Portfolios (MWP) platform, and savings of up to 15bps for other strategists on the platform;
• Elimination of IRA custodial fees, and reduction in the overall program fee in MWP by roughly one-third, for its most popular account sizes.

About LPL Financial

LPL Financial is a leader in the retail financial advice market and the nation’s largest independent broker-dealer*. We serve independent financial advisors and financial institutions, providing them with the technology, research, clearing and compliance services, and practice management programs they need to create and grow thriving practices. LPL enables them to provide objective guidance to millions of American families seeking wealth management, retirement planning, financial planning and asset management solutions.

Securities and Advisory services offered through LPL Financial, a registered investment advisor. Member FINRA / SIPC. *Based on total revenues, Financial Planning magazine June 1996-2019

About State Street Global Advisors

For four decades, State Street Global Advisors has served the world’s governments, institutions and financial advisors. With a rigorous, risk-aware approach built on research, analysis and market-tested experience, we build from a breadth of active and index strategies to create cost-effective solutions. As stewards, we help portfolio companies see that what is fair for people and sustainable for the planet can deliver long-term performance. And, as pioneers in index, ETF, and ESG investing, we are always inventing new ways to invest. As a result, we have become the world’s third largest asset manager with nearly US $2.95 trillion* under our care.

*This figure is presented as of September 30, 2019 and includes approximately $64 billion of assets with respect to SPDR products for which State Street Global Advisors Funds Distributors, LLC (SSGA FD) acts solely as the marketing agent. SSGA FD and State Street Global Advisors are affiliated.

About Invesco

Invesco Distributors, Inc. is the US distributor for Invesco’s retail products and private placements, and is an indirect, wholly owned subsidiary of Invesco Ltd.

Before investing, investors should carefully read the prospectus/summary prospectus and carefully consider the investment objectives, risks, charges and expenses. For this and more complete information about the ETFs call 800-983-0903 or visit invesco.com for the prospectus/summary prospectus.

Invesco Distributors, Inc. is not affiliated with LPL Financial LLC

About WisdomTree

WisdomTree Investments, Inc., through its subsidiaries in the U.S., Europe and Canada (collectively, “WisdomTree”), is an exchange-traded fund (“ETF”) and exchange-traded product (“ETP”) sponsor and asset manager headquartered in New York.  WisdomTree offers products covering equities, fixed income, currencies, commodities and alternative strategies.  WisdomTree currently has approximately $61.8 billion in assets under management globally. 

WisdomTree® is the marketing name for WisdomTree Investments, Inc. and its subsidiaries worldwide.

Important Disclosures

There is no assurance that the Advisory platforms discussed are suitable for all investors or will yield positive outcomes. The purchase of certain securities will be required to affect some of the strategies. Investing involves risks including possible loss of principal.

An investment in Exchange Traded Funds (ETF), structured as a mutual fund or unit investment trust, involves the risk of losing money and should be considered as part of an overall program, not a complete investment program. An investment in ETFs involves additional risks such as not diversified, price volatility, competitive industry pressure, international political and economic developments, possible trading halts, and index tracking errors.

Investors should consider the investment objectives, risks, charges and expenses of the ETF carefully before investing. The prospectus and, if available, the summary prospectus contain this and other important information about the ETF. You can obtain a prospectus and summary prospectus from your financial representative. Read carefully before investing.