LPL Advisor Institute

Why should I choose to work with LPL?

At LPL Financial, we have a reputation for putting advisors first. We value your unique career goals and industry independence just as much as you do. That’s why, for nearly 30 years, we’ve provided the tools, access, and infrastructure that advisors need to excel on their own terms. As an independent firm, we don’t offer traditional proprietary products or banking relationships, which gives you the freedom and confidence to offer customized, personalized advice to your clients. As an LPL financial advisor, you’ll benefit from services such as research, technology, compliance, access to an ever-growing array of products, continuing education, and a dedicated team that’s always ready to help you succeed. Learn more about the benefits of joining LPL.

For advisors looking to grow their practice, or implement a succession plan, hiring a new advisor may be the solution they need to support their practice today — and beyond. Many established advisors recognize the value in bringing a new advisor into their practice; but after getting over the hurdle of finding the right candidate, a big challenge is finding the time or resources to groom them for success.

That’s where LPL’s Advisor Institute comes in. The Advisor Institute takes the training burden off established advisors so they can continue to focus on running their business.

The Advisor Institute provides trusted and proven advisor training programs led by experienced instructors to expedite the development of newer-to-the-industry advisors, so they can get further, faster — and help your practice thrive. Our training programs meet new advisors where they are — giving them the skills needed to prosper. Programs are offered several times each year to provide flexibility and choice, and assistance options are available to help reduce upfront costs.

1. Are the advisor training programs appropriate for career changers with no financial industry experience?

Yes, the Advisor Institute currently offers training programs that include options to help new advisors polish prospecting and sales skills, become fully licensed, or earn their CFP.

For career changers with no financial experience, we also offer a robust 12-month advisor training program, called the Signature program, which is split into three phases incorporating a range of educational methods with new advisors taking on increasingly more responsibility as they develop their own books of business. By the end of this program, new advisors are ready for full production. This program focuses on prospecting and sales skills; preparing for your securities exams, including Securities Industry Essentials (SIE), Series 7 top-off (S7TO), and Series 66 (S66); learning LPL products and platforms; advanced planning education; attaining your Accredited Wealth Management Advisorsm (AWMA®) designation; and attending LPL events (virtual symposium and in-person conference).

2. Are the advisor training programs appropriate for experienced advisors?

The Advisor Institute training programs include content from industry subject-matter experts to support a range of professionals, from newer advisors to non-licensed personnel — and even established advisors looking to hone their skills.

3. Do you offer a Certified Financial Planner (CFP®) education program?

Yes, the Advisor Institute offers a CFP® Fast Track program. The CFP® Fast Track program is comprised of seven required classes and a pre-exam review facilitated in partnership with the Brett Danko Educational Center. It is administered through Stockton University’s CFP® Certification Professional Education Program and is registered with the CFP® Board of Standards. Upon successful completion of this program, a participant will be eligible to sit for the CFP® Board exam and should have the knowledge necessary to pass it. LPL advisors can join at any time as enrollment is on a per-class basis. A participant must complete all seven classes before sitting for the exam, which is offered three times per year in March, July, and November.

4. Do you offer a licensing education program? What licensing registrations are included?

Yes, the Advisor Institute offers a licensing training program several times each year. This program provides the knowledge and tools for a participant to be able to complete and pass the Securities Industry Essentials (SIE), Series 7 top-Off (S7TO), and Series 66 (S66) exams, enabling the advisor to become fully licensed in approximately six months. Program materials are continuously updated for changes in rules, regulations, laws, and exams.

5. What is the structure of the Securities Industry Essentials (SIE) exam?

The SIE exam consists of 75 multiple-choice questions, each with four options, plus 10 unscored questions with topics ranging from knowledge of capital markets, understanding products and their risks, understanding trading, customer accounts, and prohibited activities, and an overview of the regulatory framework. The exam is administered by the Financial Industry Regulatory Authority (FINRA). Advisors have 105 minutes to complete the exam and must score a minimum of 70% to pass.

6. What is the structure of the Series 7 top-off (S7TO) exam?

The S7TO exam consists of 125 questions plus 10 unscored questions with topics ranging from the suitability of recommendations, mutual funds, municipal bonds, securities regulations, and customer accounts. The exam is administered by the Financial Industry Regulatory Authority (FINRA). Advisors have 225 minutes to complete the exam and must score a minimum of 72% to pass.

7. What Is the structure of the Series 66 exam?

The Series 66 exam consists of 100 multiple-choice questions and 10 pretest questions — it’s designed to qualify candidates for both securities and investment advisor roles. Each section of questions is weighted differently when it comes to scoring. Advisors have 150 minutes to complete the exam, which is administered by the North American Securities Administrators Association (NASAA).To obtain a passing score, a candidate must correctly answer 73 of the 100 questions that are scored.

8.  Is It difficult to pass the SIE, S7TO, and Series 66 exams?

As a participant in the Advisor Institute, your new advisor will be well-positioned to pass the Securities Industry Essentials (SIE), Series 7 top-Off (S7TO), and Series 66 (S66) registrations. In our licensing training program, participants receive access to professional coaching, training, and education. Advisors who dedicate an appropriate amount of time to studying, learning from their instructors, and taking practice tests can usually expect a successful passing score allowing them to become fully licensed.