LPL announced the rollout of its own integrated, in-house cash management account this week.
While former LPL CEO Dan Arnold first hinted at building its own integrated account in 2022, it was Chief Wealth Officer Aneri Jambusaria who, in August, discussed a pilot underway and heralded its impending arrival during the firm’s annual 2025 Focus conference.
As part of its build-out, LPL made strides to better integrate the new cash features with the investing capabilities of LPL’s ClientWorks platform and make them more visible on LPL’s Account View.
While these developments are relatively new, the firm has long had a cash sweep program and has faced lawsuits related to it, largely over alleged breaches of its fiduciary duty based on an imbalance between low client returns and significant profits for the firm realized through the accounts (something widespread in the industry).
April Partners with Nasdaq on Embedded Tax Calculation Product
The tax forecasting, planning and data platform april announced this week the launch of its real-time, personalized tax calculation product for equity transactions. In this initial rollout of the embedded service, april partnered with Nasdaq Private Market.
According to a statement, this marks the first time tax tools and forecasting are being brought into the transaction flow. Investors and financial advisors alike have long found tracking cost basis, tax consequences and potential liabilities from stock sales transactions challenging.
This announcement highlights the potential for integrating with other brokerage and equity management platforms and the increased depth of client guidance advisors will likely have access to in the future, such as being able to better estimate the tax impact of equity trading, the exercise of client stock options, or when executing large portfolio transactions.
April has now raised more than $78 million in funding after a Series B raise in July.
WealthFeed Integrates with Major Compliance, Cybersecurity Provider Proofpoint
The desire for organic growth among independent advisors is constant, but the synergies between prospecting tools and compliance are often lacking. This week, the AI-driven prospecting and lead generation platform WealthFeed announced a strategic collaboration with Proofpoint Inc., a large and established provider of security, communications, compliance and supervision technology.
Specifically discussed in the prepared statement is WealthFeed’s implemention of Proofpoint’s Patrol API directly into its platform. Simply put, this means improved automation when it comes to real-time communication supervision and compliance review. The many advisory firms already using Proofpoint will thereby be able to connect their Patrol API feed directly into WealthFeed, taking advantage of any existing compliance workflows and policies.
Another constant worry among independent advisors is cybersecurity, but it is often too little invested in or properly addressed. While not mentioned in the prepared statement, Proofpoint is also a provider of cybersecurity products and is owned by private equity firm Thoma Bravo, which also owns or has owned many other cybersecurity firms in its portfolio.
