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LPL makes big advance into the RIA business with Fortigent acquisition

The kingpin of product-based mass affluent advice now has a major beachhead with high-net-worth investors

Author Brooke Southall January 3, 2012 at 8:34 PM
1 Comment
no description available
Andy Putterman: It couldn't be any more offensive.

Barry Glassman


David Devoe


Andrew Putterman


Liz Nesvold

Stephen Winks

Stephen Winks

January 3, 2012 — 10:52 PM

LPL and Fortigent may be the firm from which emerges large scale institutionalized support for fiduciary standing.

LPL can advance the alternatives: (1) you can be a broker who is neither accountable nor responsible for your recommendations of expensive investment products where it is not possible for you or your clients to know whether you add value and it is not possible to act in the consumer’s best interest as it protects you and your broker/dealer from fiduciary liability or, (2) you can be an advisor who is both accountable and accountable to a high professional standard in the client’s best interest and through access to expert enabling resources you provide an unprecedented level of expert investment and administrative counsel at a lower cost than the commission sale of expensive packaged products.

LPL can actualize the modernity mantra of faster (real time), better (fiduciary standing in the client’s best interest) and cheaper (innovations in portfolio construction: overlay management) long overdue in the financial services industry.

100% of consumers prefer unconflicted superior advice in the client’s best interest at a lower cost than outdated commission sales.

Genius !


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Mentioned in this article:

LPL Financial
RIA-Friendly Broker-Dealer, RIA Welcoming Breakaways, Advisory Firm
Top Executive: Dan Arnold

DeVoe & Company
Consulting Firm
Top Executive: David DeVoe

Silver Lane Advisors
Mergers and Acquisition Firm
Top Executive: Elizabeth Nesvold

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