LPL signs on with FolioDynamix for rebalancing to boost its IBD offering and Fortigent's
The huge independent broker-dealer will wean advisors off its homegrown trading and rebalancing suite and stick with Fortigent for research and performance offerings
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 at 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 at 2:02 AM
RIA in a Box gunning for top-notch staff as it readies for Aquiline-fueled roll-up binge, targeting old-school, mom-and-pop compliance competitors
With Ascensus also in its portfolio, Aquiline is showing a penchant for taking dull, fragmented, unloved wealth-management niche businesses and rolling them up into sexier firms
November 29, 2018 at 11:54 PM
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 at 7:40 PM
RIA-Friendly Broker-Dealer, RIA Welcoming Breakaways, Advisory Firm
Top Executive: Dan Arnold
Top Executive: Bill Winterberg
Cetera Financial Group
Top Executive: Larry Roth
Frederick Van Den Abbeel / TradePMR
Interesting to see how some firms are developing their technologies. Some choose to offer an integrated comprehensive solution on one platform to allow their Advisors with a true single-sign on experience offering real-time data and information exchange while others, perhaps due to legacy system issues, are working hard partnering with external providers in an attempt to replicate a comprehensive solution. It appears the RIA Industry in general is turning a corner in terms of technological advancements which I feel is a betterment for us all.
LPL needs to address the needs of two segments of the market. Their largest segment, mass affluent, is better suited for FolioDynamics and their smal but growing ultra affluent segment is best served by Fortigent.
LPL “gets it”
The comprehensive fiduciary solution, that simplifies advice and streamlines cost seems to be universally desired. Thus the challenge with complex, expensive incremental solutions that do not integrate well and are not user friendly, often limited by outdated technology. All would argue for a new less expensive, simplifying expert fiduciary solution for advisory services.
Whoever cracks the code on modernity and faster, better, cheaper and far superior ways to construct an unlimited number of custom client portfolios wins.
Fortigent brings superior intellect but is not scalable as you would think for the often customized needs at the high end of the market. It was surprising that LPL’s rebalancing capability was inadequate for advisory services, as was the puzzeling under-utilization of rebalancing in retail accounts.
Thus a very good sign LPL is being more progressive in their support of advisory services and their advisor’s value proposition.