News, Vision & Voice for the Advisory Community


LPL to Wall Street types: We're in phase three

At a Merrill Lynch forum, the IBD's CFO explains that Phase I was the mass accumulation of advisors and Phase 2 was about RIA-ification

Author Brooke Southall May 20, 2013 at 2:47 PM
no description available
Dan Arnold: Now that our footprint's in place [we're] moving into the third phase of our strategy in 2013.

Jeff Spears

Jeff Spears

May 20, 2013 — 6:14 PM

Investing in organic growth has a much higher risk adjusted return than recruiting. First you know the professional (bird in the hand) therefore you lower your risk of a bad recruit whose best days might be behind them

Wall Street has NEVER taken this approach so I applaud LPL.

Brooke Southall

Brooke Southall

May 20, 2013 — 6:25 PM



Is there an industry rule of thumb for how many recruits turn out to be counterproductive, or highly marginal?




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June 26, 2014 — 2:34 PM

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Mentioned in this article:

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

Tiburon Strategic Advisors
Consulting Firm
Top Executive: Charles Roame

Finetooth Consulting
Consulting Firm
Top Executive: Ryan Shanks

Diamond Consultants
Top Executive: Mindy Diamond

FA Match
Consulting Firm, Specialized Breakaway Service, Recruiter
Top Executive: Ryan Shanks

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