News, Vision & Voice for the Advisory Community


LPL Financial share price tumbles to pre-hostile bid levels in atmosphere of eerie calm

LPL reps shrug their shoulders over a possible sale and investors seem in no hurry to buy but experts say the B-D has what PE loves -- lousy growth but terrific cash flow

Author Janice Kirkel October 21, 2016 at 6:57 PM
no description available
Doug Flynn: New management brings in its own coaches.

Stephen Winks

Stephen Winks

October 21, 2016 — 11:25 PM
Every b/d faces industry redefining change in how they conduct business and play by entirely new rules. LPL uniquely has scale in the independent space. Thus, given everyone must adapt, LPL has a better shot in an even a more formidable competitive market environment especially in the independent space. It all depends on its relative ability to execute.:(1) treating trade execution as a cost center to be minimized in the client's best interest, (2) retooling its product menu to streamline cost and facilitate real time client holdings data and (3) the development of prudent process authenticated back to objective, non-negotiable fiduciary criteria which puts financial services (asset/liability study, investment policy, portfolio construction, performance monitor) back into the financial services business. LPL could surprise much ;larger firms with lower cost and a superiort value proposition that affords professional standing to advisors and their clients. SCW

Related Moves

Goldman Sachs-Creative Planning deal is bleeding defectors -- 16 more last week, report says -- auguring a 'potential disaster,' analysts warn

Dozens of former 'United Capital' advisors are fleeing at once, but Peter Mallouk is still battling to keep them, and Goldman Sachs may play legal hardball, sources say.

October 4, 2023 at 2:16 AM

LPL makes 'Sixth Sigma black belt' ex-wirehouse counsel its chief legal officer, right after purchasing another full service broker. LPL says there is 'no connection,' and she was poached from Google

The Fort Mill S.C. broker dealer added Crown Capital Securities' captive brokers in Orange County, and is hiring Althea Brown, fresh off 11 years at Google

July 28, 2023 at 3:11 AM

Rich Steinmeier power poaches Jeremy Holly, who returns to LPL as EVP to head Dan Arnold-directed 'liquidity' project to buy -- but not hold -- LPL firms

Holly had bolted LPL for SageView with fanfare but he retained a fanbase back in San Diego which dreamed up a dream job for him

July 7, 2023 at 9:36 PM

Another RIA whisperer, Julian Lopez, has left Schwab Advisor Services after 24 years to join LPL, which he sees as more advisor-focused and 'entrepreneurial'

The Houston executive, like Kelly Smith in Chicago, was considered a key service talent for RIAs though Lopez says his circumstances differ.

February 23, 2023 at 8:14 AM

See more related moves

Mentioned in this article:

LPL Financial
RIA-Friendly Broker-Dealer, RIA Welcoming Breakaways, Advisory Firm
Top Executive: Dan Arnold

Private Advisor Group
Specialized Breakaway Service
Top Executive: Frank Smith, Chief Executive Officer

RIABiz Directory

The Industry Sourcebook for RIAs

   |    LISTING

RIABiz Directory sponsored by:

Directory Sponsor Logo