Prudential and LPL Financial expand partnership with retirement income strategy

NEWARK & SAN DIEGO - Prudential Financial, Inc. (NYSE:PRU) and LPL Financial LLC (NASDAQ:LPLA) announced an expansion of their partnership to develop an Insurance Overlay retirement lifetime income strategy for LPL’s managed accounts platform, according to a press release statement.

The collaboration aims to reach financial advisors who typically do not use protected lifetime income solutions in their wealth management practices. The initiative comes as more than 11,000 Americans turn 65 daily, with only a small portion of the $34 trillion in retail retirement assets currently protected against longevity risk and market volatility. According to InvestingPro, LPL Financial’s strong market position is reflected in its $26.49 billion market capitalization and impressive return on equity of 29%.

The solution will offer multiple Prudential individual, insurance-based retirement products to LPL’s network of 29,000 financial advisors. This follows the recent integration of Prudential Advisors onto the LPL Financial wealth management platform.

"Our pioneering work together will expand access to retirement security, helping more clients protect their life’s work, so they can live better lives, longer," said Ann Nanda, head of Future Growth Initiatives and Distribution Enablement at Prudential Retirement Strategies.

Cheri Belski, executive vice president and head of LPL Investment Management Solutions, described the collaboration as "a significant step forward in how we empower advisors and clients to secure their retirement futures."

Prudential Financial manages approximately $1.6 trillion in assets as of June 30, 2025, while LPL Financial supports over 29,000 financial advisors and services approximately $1.9 trillion in brokerage and advisory assets. Analysts maintain a positive outlook on LPL Financial, with price targets ranging from $390 to $504 per share. For deeper insights into LPL Financial’s valuation and growth prospects, investors can access comprehensive analysis through InvestingPro’s detailed research reports, available for over 1,400 US stocks.

The companies did not disclose when the new retirement income strategy would be available to advisors or clients.

In other recent news, LPL Financial Holdings Inc. reported a significant increase in total advisory and brokerage assets, reaching $2.26 trillion at the end of August 2025. This 16.7% rise from the previous month was largely driven by the acquisition of Commonwealth Financial Network, which added $275 billion in net new assets. In addition to the acquisition, LPL Financial recorded $17.8 billion in organic net new assets, marking an 11% annualized growth rate. Meanwhile, Rothschild Redburn downgraded LPL Financial from Buy to Neutral, citing a focus on integrating CFN over the next 12-18 months. In contrast, Goldman Sachs reinstated LPL Financial with a Buy rating, highlighting the company’s underperformance relative to peers since the Commonwealth acquisition announcement. Additionally, a team of six advisors from Skyward Financial, managing $700 million in assets, has joined LPL Financial’s platform. In related industry news, GTCR completed its acquisition of FMG Suite, with former LPL CEO Mark Casady joining as Executive Chairman. Casady will work on strategic growth initiatives and the development of AI-enabled products at FMG.

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