News, Vision & Voice for the Advisory Community


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

Tuesday, January 3, 2012 – 8:34 PM by Brooke Southall
no description available
Andy Putterman: It couldn't be any more offensive.

Related Moves

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

Executive shake-up and staff hiring binge change Dynasty Financial Partners' talent mix, with Todd Thomson, Scott Welch, Ed Friedman and 12 women as headliners

The St. Petersburg-based producer of 'synthetic RIA scale' will continue to aggressively hire and adjust its talent ranks as it readies for next growth push.

September 24, 2019 – 2:02 AM

His days of playing defense done, Jeff Concepcion pinches pennies then poaches a Fidelity and Schwab veteran to execute grab for next $6 billion of AUA at Stratos

Lou Camacho will pursue goal of $600 million a quarter in new assets on behalf of OSJ that wants much more inorganic growth

October 5, 2018 – 7:40 PM

Mentioned in this article:

LPL Financial
Asset Custodian
Top Executive: Dan Arnold

DeVoe & Company
Consulting Firm
Top Executive: David DeVoe

Silver Lane Advisors
Mergers and Acquisition Firm
Top Executive: Elizabeth 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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