LPL will launch third-party robo for advisors and eliminate some fees
Dan Arnold laid it on the line: LPL is being disrupted but taking the challenges head-on
Stephen Winks
Compensation is just the initial impact of brokers acting in the best interests of the investing public as required by statute when rendering advice. The more profound change to come is (1) b/ds acknowledging and assuming fiduciary liability as it requires (2) expert authenticated prudent investment process, (3) advanced technology and (3) a more modern less expensive approach to portfolio construction.
New market leadership will be established based on how well firms adhere to those three big innovations.
SCW
Stephen Winks
Mike Byrnes
Sanders, good article. Nice to meet you! — Mike Byrnes, President of Byrnes Consulting, LLC, www.byrnesconsulting.com
PS Get a Twitter account!
Related Moves
Dan Arnold is gone as LPL CEO, but his leverage to negotiate a settlement is apparent as LPL tells SEC it is deferring exercise of 'automatic forfeiture' of some vested options
Analysts stunned, seeking further clarity from LPL on future leadership, are reassured by company that 'no further shoe will drop'
October 3, 2024 at 3:08 AM
Dan Arnold steps down as LPL CEO, under a cloud, effective immediately; Steinmeier steps in as interim CEO
Well-regarded, Steinmeier has been LPL's go to player, after he was promoted to chief growth officer in May
October 1, 2024 at 8:42 PM
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
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
See more related moves
LPL Financial
RIA-Friendly Broker-Dealer, RIA Welcoming Breakaways, Advisory Firm
Top Executive: Dan Arnold
