LPL Financial undertakes painstaking overhaul of service spurred by capacity overwhelm and RIA demand for Schwab-style pods
In addition to aggressive hiring, training and creating 'queues,' Tom Gooley and Tim Hodge are tackling the big one -- service culture
LPL is coming of age bringing in top executives from top firms in the know, creating a new service model built around an entirely new infrastructure that eclipse outdated Wall Street systems which do not support advisory services, the client’s best interest and the professional standing of the broker when rendering advice. It will be interesting to see how Wall Street veterans adapt the outdated brokerage product distribution model to the new advisory services business model in the client’s best interest. Very exciting for investors and advisors. LPL promises to be a market leadership challenge for the industry at large as transparency renders the institutionalized inefficiencies of the old trading and distribution model both expensive and clearly counter to the best interest of the investing public.
UBS bets its 'wealth' future on ex-Schwabbie Naureen Hassan, a corporate digital A-lister, who analysts give a fighting chance to transcend PaineWebber's ossified culture
Still a $2-billion cash-flow cow, the Swiss bank's 6,000-broker, US-based wirehouse is milking aging broker relationships with aging investors but needs a new kind of human presence, empathy, mindset and smarts to draw in Gen Z.
July 16, 2022 at 1:35 AM
Fidelity lands RIA whisperer from Schwab in a coup, apparently using quality-of-life perks as lure
Kelly Smith chose the Boston rival for greater flexibility, better pay and a chance to move upmarket to sell family office services to RIAs that mix with the ultra-high-net-worth elite.
February 10, 2023 at 3:39 AM
RIA recap: Bernie Clark promises to 'be there' for coming TDA-Schwab system snafus; Fidelity gets custody win; Vanguard dishes out big tax bill to investors
Schwab RIA chief petitions for 'patience' for coming merger inconveniences but 'repapering' is no culprit; Carrie Pomerantz gets Schwab board seat; Addepar wins $65 billion AUM contract.
November 3, 2022 at 1:59 AM
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 at 1:24 AM
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