What Derek Bruton's replacement may say about the departure that still has people shocked
Bill Morrissey is known to grind out quantifiable results
Stephen Winks
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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As RIA M&A continues to go ballistic, Gladstone Group makes consultant out of Derek Bruton -- with an 'enterprise' wrinkle
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Three months after Larry Roth's SPAC steps in, Derek Bruton steps down as Kingswood US CEO and eyes next move in July with no Kingswood successor in sight
The former LPLer's three-year stint began with Chalice in San Diego and ended with lead role in a British roll-up later swallowed by an investment firm headed by former Cetera CEO Roth.
March 30, 2021 at 8:00 PM
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