LPL Financial LLC announced that LPL advisors now have access to the newly launched Strategic Market Solution (SMS) Plus, a multiple employer aggregate program powered by Lincoln Financial Group's recordkeeping platform. This expansion of LPL's existing SMS program leverages strategic industry leaders to offer a suite of retirement plan administration solutions for small businesses and start-up plans. The aggregated support model helps mitigate investment fiduciary risk and creates efficiencies of scale for plan sponsors, reducing the costs and administrative tasks associated with managing retirement plans and ultimately giving sponsors the ability to offer retirement plan options designed to fit their employees' needs, so they can focus on running their core business.

The solution brings together specialized, top-tier providers to help provide oversight and management of retirement plans. SMS Plus is powered by Lincoln Financial Group's fully integrated and easy-to-use recordkeeping platform, which enables plan sponsors the ability to drive results through their personalized website with at-a-glance plan details. In addition, 3(38) investment management fiduciary services are offered through LPL, the Retirement Advantage (TRA) offers 3(16) administrative fiduciary services, and sponsors can opt for payroll services through Paylocity.