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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
no description available
Paul Saganey: We didn’t even discuss the prospects for a sale in our talks.

Related Moves

The RIA world's provacateur, Raj Udeshi, left Orion to go 'nuts,' bears no grudges after the Riskalyze assault, and reveals his one regret was taking too little risk

Now in Kern County, Calif. the HiddenLevers founder, 45, is growing pistachios for 'single-digit' returns and maintains a great relationship with Eric Clarke and Orion.

March 22, 2023 at 1:48 AM

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

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

Brad Shepard unexpectedly resigns from Orion Advisor Services after 10 months, and his chief strategy officer position will remain vacant, the company says

The Nashville, Tenn. executive came aboard to create a 'go-to-marketing strategy' for Brinker, HiddenLevers and legacy units but gave his notice this week.

January 7, 2022 at 11:40 PM

See more related moves

Mentioned in this article:

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

RIA Publication
Top Executive: Eric Clarke, CEO

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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