LPL Financial recently reported that its third-quarter profits more than doubled from this time last year. After the announcement, the broker-dealer affirmed its commitment to focusing its service upgrade efforts on digital-first support.

CEO Dan Arnold told analysts that the firm's strategy is to transition to a client care model for advisors. Amid significant recruiting gains and acquisitions, LPL is transforming its service interface and reimagining operational processing, according to Arnold. The new interface will create a more accessible and efficient experience for advisors to access the information they need.

As the firm expands its digital capabilities, advisors increasingly can engage digitally to resolve their requests rather than making a phone call. Arnold believes the digital enhancements will have a meaningful impact on the scalability of LPL's platform while simultaneously enhancing the customer experience.

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