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What Derek Bruton's replacement may say about the departure that still has people shocked

Bill Morrissey is known to grind out quantifiable results

Author Lisa Shidler April 14, 2014 at 6:52 PM
1 Comment
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Bill Morrissey epitomizes LPL's ability to grow rapidly.

Hybrid RIA

Stephen Winks

Stephen Winks

April 14, 2014 — 8:45 PM

Everyone should wish Bill Morrissey the best, as LPL, the largest independent broker/dealer, seeks to manage a widely diverse group of independent brokers into a scalable advisory support format. The advisor seeks control over their value proposition, cost structure, margins and professional standing, not possible in a brokerage format. Will LPL and the brokerage industry in general be able to make the transition from brokerage to advisory services? The difference is in selling advice products in the b/ds best interest versus managing investment and administrative values on behalf of each client in the client’s best interest.

As a hands on manager who hits his numbers, will Morrissey be adroit in introducing disruptive innovation required for professional standing creating a unifying culture within LPL?

A daunting opportunity that could transform the entire industry?


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LPL Financial
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