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LPL Financial shares hit rough patch on $18-million surprise as RIAs now represent the vast majority of the firm's business development

Wall Street dings the IBD for spiralling compliance costs but hybrid RIA assets are serious bright spot

Author Brooke Southall October 23, 2014 at 3:44 AM
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Robert Moore: Today, our independent RIA business accounts for approximately 65% of our new business development.

Hybrid RIA


RIA Custodians

Stephen Winks

Stephen Winks

October 23, 2014 — 2:59 PM

The inevitable evolution continues as scale for RIAs emerges and the differences between accountability and responsibilities for recommendations becomes clear and the consumer protections afforded the investor are differentiated and the professional standing of the RIA is established. The industry would be foolish to ignore what the marketplace is telling us. Don’t be surprised that the Advisor business model supplants the broker business model at the industry’s largest independent b/d. The industry’s aversion to innovation is becoming its most attractive path to growth. This is not a conscious move by LPL as it is still pushing back on innovation, but simply reflects the workings of the free market in support of the best interest of the investing public. LPL will look significantly different a decade from now than it does today as it is in its enlightened self interest to become an incubator for advisors rather than yet an another outdated platform for brokers.


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November 3, 2022 at 1:59 AM

Christa Carone, an ex-Fidelity and Xerox marketing whiz, steps onto a slippery slope at LPL with a daunting task -- to consolidate a NASCAR size brand portfolio... or not?

With no CMO since August, the chief marketing officer will play catch up for a company still hungry to buy more branded B2B and B2C players.

April 2, 2024 at 1:28 AM

LPL makes 'Sixth Sigma black belt' ex-wirehouse counsel its chief legal officer, right after purchasing another full service broker. LPL says there is 'no connection,' and she was poached from Google

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July 28, 2023 at 3:11 AM

Rich Steinmeier power poaches Jeremy Holly, who returns to LPL as EVP to head Dan Arnold-directed 'liquidity' project to buy -- but not hold -- LPL firms

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July 7, 2023 at 9:36 PM

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Top Executive: Dan Arnold

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