CLIENT INFORMATION PROVIDED TO PORTFOLIO MANAGERS. When a client opens an account, the Advisor obtains the necessary financial data from the client and assists the client in setting an appropriate investment objective for the account. The Advisor obtains this information by having the client complete an Account Application which is a part of the Account Agreement. In the case of SMA Platform accounts, LPL forwards this information to the selected SMA Portfolio Manager. In the case of MP Platform accounts, the Advisor uses this information to recommend an investment strategy and Model Portfolio for the account. LPL typically will not provide client information to third-party Model Advisors. After the account opening, LPL asks clients quarterly to contact the Advisor if there have been any changes in the client’s financial situation or investment objectives or if the client wishes to impose any reasonable restrictions on the management of the account or modify existing restrictions. If client communicates to the Advisor regarding material changes in the client’s financial circumstances, investment objective or investment restrictions, such information is forwarded to the SMA Portfolio Manager for SMA Platform accounts. Clients may communicate such information to the Advisor, or SMA Platform clients may otherwise communicate directly with the SMA Portfolio Manager, although clients are encouraged to direct communication through the Advisor. Client should be aware that the investment objective selected for the program in the Account Application is an overall objective for the entire account and may be inconsistent with a particular holding and the account’s performance at any time. Client should further be aware that achievement of the stated investment objective is a long-term goal for the account.
Appears in 4 contracts
Samples: Account Agreement, Account Agreement, Account Agreement
