What Derek Bruton's replacement may say about the departure that still has people shocked
Bill Morrissey is known to grind out quantifiable results
Mark Casady is under the gun to spend his SPAC's $200 million of cash to avoid October deadline but a recent SEC filing sounds an ominous note after CEO departs
Lefteris reports that Jon Isaacson is taking over as CEO from Karl Roessner, the 'natural choice' to make a deal, according to Casady, though it's down to a few weeks
September 29, 2022 – 1:24 AM
As RIA M&A continues to go ballistic, Gladstone Group makes consultant out of Derek Bruton -- with an 'enterprise' wrinkle
The Plymouth Meeting, Pa., deal shop has fintech and asset managers reaching out for RIA advice, in addition to scores of RIAs trying to decide whether to pull the trigger.
January 6, 2022 – 6:21 PM
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 – 8:00 PM
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
Rob Sandrew hit it off with Keith L. Frasier, willing to speak up on racial and racial justice issues, who also checks all the boxes for attracting talent and assets at a firm that recruited $2 billion last year
August 19, 2020 – 2:18 AM
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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?