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How a $4-billion OSJ jumped ship from Lincoln Financial to LPL just before the Mark Casady step-down in search of safe harbor in the eye of DOL-rule storm

Lincoln wins in that Integrated Financial Partners still gorges on its products but CEO Paul Saganey likes the better control over fees under LPL

Author Janice Kirkel December 12, 2016 at 7:47 PM
1 Comment
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Paul Saganey: We didn’t even discuss the prospects for a sale in our talks.

Hybrid RIA


RIA Compliance

Stephen Winks

Stephen Winks

December 13, 2016 — 1:30 AM
Keep your eyes on Casada in his new VC role. Presently no b/bs or custodians support fiduciary duty for fear being prescriptive would trigger fiduciary liability. Even with the DOL rule, professional standing in advisory services is difficult for brokers. The R&D, intellectual and financial capital necessary for b/d fiduciary compliance is beyond the reach of b/d executives to execute. Yjis is where Mark Casady can make a massive industry contribution in advancing prudent process (asset/liability study, investment policy, portfolio construction, performance monitor) authenticated back to statute which establishes a safe business environment in which brokers can acknowledge fiduciary standing. By putting "financial services" back into the financial services business, Casady's VC funding of large scale institutionalized support of (fiduciary duty) prudent process in the client's best interest would forever change the financial services industry for the good of all. SCW

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