10 reasons why LPL Financial could pull off a hot IPO in a cold market
The big IBD touts its big size, big growth and big recruiting opportunity in SEC filing
Dan Seivert's ripping success in RIA M&A deals has odd side effect of having some sidearm staff leave for new vistas
Carolyn Armitage and Mark Bruno left to mutual benefit, while Echelon Partners roars on, feeding the beast of deal-crazed RIA buyers and sellers.
July 20, 2021 – 1:17 AM
How a white senior vice president at an LPL OSJ came to hire a former black minister as recruiter despite the latter's pledge to make it 'uncomfortable' at times
Rob Sandrew hit it off with Keith L. Frasier, willing to speak up on racial and racial justice issues, who also checks all the boxes for attracting talent and assets at a firm that recruited $2 billion last year
August 19, 2020 – 2:18 AM
After recruitment of minorities and women gets CEO-level attention at Raymond James, a program gets a dynamic leader
With ratios stuck in the teens, CEO Paul Reilly gives chief marketing officer at subsidiary Carillon Tower Advisers, Renee Baker, her shot at mission impossible -- getting Advisor Inclusion Networks to live up to its Orwellian name
August 24, 2019 – 4:25 AM
Last year's RIA chief departs Raymond James after ship sails without her at helm of RIA unit, leaving her anchored to COO role
Maria Daley took the reins after Bill Van Law's unexpected departure, but Greg Bruce came on in March to lead RIA Unit, a job she held on interim basis
June 6, 2019 – 2:16 AM
See more related moves
LPL has captured the first wave of breakaway adisors who have left Wall Street firms because their payouts were cut and/or they were not offered retention bonusses in 2008/09.
The second wave of breakaway advisors will be the larger producers who received a retention bonus and have not had their payouts cut “yet”. It will be interesting to see how LPL trys to attract this group.
not my name
To anwer youor question, Jeff—-Its really simple:
Pay off the retention bonuses. Period.
If your at “insert name here”, and you were bought out by a bank, as I was—your payout has already been cut. My production is higher every month T-12 than the previous, yet check is smaller than the previous.
Get me out off that bonus commitment, and I’m gone. So are many, many more.
And their attitude is, “ if you dont like it here—maybe you should look somewhere else” I heard a regional manager tell a roomful of brokers that very statement last fall.
LPL Financial is the story of the American Retirement Dream. Todd Robinson, Mark Casady, Jim Putnam and countless others built the modern financial planning firm, for investors and the top advisors.
President WealthVest Marketing
Read my blog on LPL
LPL built an incredible brand over 20 some years. Todd Robinson’s vision, combined with some exceptional management talent in Jim Putnam, Mark Lopez, Bill Dwyer, Joh Easton, Ester Stearns, Stephanie Brown and of course, Mark Casady, created this great firm. Todd gave a tremendous amount of the company away in style of generosity and love of his employees.
LPL advertises in their roadshow that 85-90% of all fees go to their advisors. Some advisors receive up to a 96% payout.
Read more in my blog: