Products September 26, 2013

OppenheimerFunds Redesigns Adviser Portal

The adviser site at OppenheimerFunds has been enhanced with new features and additional ways to compare funds and judge performance.
Reported by

The changes were made in response to the shifting needs of advisers, according to Phillipp Hensler, head of distribution at OppenheimerFunds. “The business has become more complex, so we took a close look at what they do every day and how we could leverage technology to help them do it better, faster and smarter,” he said.

Features now include a side-by-side comparison of the firm’s funds with competing funds from other companies, using the Morningstar Fund Comparison tool; an expanded Morningstar Hypothetical tool that includes all fund families; and fund performance information with interactive fund data.

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Advisers can share best practices and interact with one another using the Advisor Exchange, OppenheimerFunds’ adviser-only discussion forum. The CEO Advisor Institute program delivers content for professional development. Advisers can get answers to fund questions in real time through “Click-to-Chat.”

During the beta launch, OppenheimerFunds tested the site with a group of its advisers. Average users spent nearly seven minutes per visit (well over the industry average) and delivered positive feedback about the site.

More information about the site is here.

Products September 26, 2013

LPL’s Worksite Opens to New York Life

New York Life Retirement Plan Services is giving its plan sponsors access to the LPL Financial Retirement Partners’ Worksite Financial Solutions platform. 
Reported by

New York Life Retirement Plan Services is expected to provide a daily participant level data feed early next year to LPL Financial, when requested by plan sponsors, to enable LPL advisers to provide tailored financial advice.

“The need for comprehensive financial advice, beyond the 401(k), is vitally important to drive better outcomes for our participants,” said Patrick Murphy, managing director of distribution for New York Life Retirement Plans Services. 

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The addition of New York Life to the recordkeepers that can support the Worksite Financial Solutions Platform is a significant win for LPL, said Bill Chetney, executive vice president of LPL Financial Retirement Partners.

Worksite Financial Solutions is a platform that gives plan participants customized financial advice and education throughout their employment careers and after, in order to promote financial wellness and retirement readiness.  The platform was rolled out this spring. (See “LPL Platform Addresses Financial Life Stages.”)

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