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Why exactly LPL Financial nixed NestWise and how OSJs, once again, may be wagging the big dog

The event is eerily similar to BloombergBlack's full stop, one analyst says, but LPL's story has its own twists, it seems

Tuesday, September 3, 2013 – 5:36 PM by Kelly O'Mara
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Esther Stearns: I remain committed to that mission.

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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

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Mentioned in this article:

LPL Financial
Asset Custodian
Top Executive: Dan Arnold

Nexus Strategy
Consulting Firm
Top Executive: Timothy D. Welsh

Kitces.com
Consulting Firm
Top Executive: Michael Kitces

Private Advisor Group
Specialized Breakaway Service, RIA-Friendly Broker-Dealer, RIA Serving Other RIAs
Top Executive: RJ Moore, Chief Executive Officer




Stephen Winks

Stephen Winks

September 3, 2013 — 7:56 PM

Channel conflict makes market extension problematical at the lower end of the market for firms that have significant advisor activity in those segments.

Merrill would have far less problems in consumer direct strategies directed to the under $250,000 market segment where they are not active.

The under $250,000 market at LPL is their core market thus the market conflict.

SCW

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