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LPL Financial's tack to roll-up mode -- complete with trash-talking its sweet terms -- may send its rep count sailing past Morgan and Merrill

CEO Dan Arnold's pivot away from seller's market in reps to buyer's market in scooping up rivals on the cheap is an experiment that could work

Author Lisa Shidler
August 18, 2017 at 6:41 PM
no description available
Chip Roame: Frankly, I doubt that there were many other legitimate bidders for NPH.

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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

Fidelity Investments' plan to hire 12,000 by October hit wall of macro-headwinds; no problem, it landed at 15,000; Schwab keeps hiring, too

The Boston giant's people grab could be derailed by indigestion -- the inability to assimilate staff -- an analyst says; but it has yet to materialize so the hiring spree rolls on.

October 29, 2022 at 12:02 AM

Executive shake-up and staff hiring binge change Dynasty Financial Partners' talent mix, with Todd Thomson, Scott Welch, Ed Friedman and 12 women as headliners

The St. Petersburg-based producer of 'synthetic RIA scale' will continue to aggressively hire and adjust its talent ranks as it readies for next growth push.

September 24, 2019 at 2:02 AM

LPL Financial tries to solve two 'digital' problems with one new hire; the broker-dealer admits high 'friction' with clients for onboarding and matching them to the right annuity

Ashish Braganza puts LPL in to the data game but critics wonder whether the belated hire comes with too small a budget and team

July 25, 2019 at 6:18 PM

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Mentioned in this article:

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

Tiburon Strategic Advisors
Consulting Firm
Top Executive: Charles Roame

Finetooth Consulting
Consulting Firm
Top Executive: Ryan Shanks

FA Match
Consulting Firm, Specialized Breakaway Service, Recruiter
Top Executive: Ryan Shanks

Stephen Winks

Stephen Winks

August 18, 2017 — 11:19 PM
The skill and capabilities of the advisor at the point of sale determines market share, productivity and market leadership. Because digitization makes anything code driven commercially viable at very low cost, thus individualized (fiduciary) portfolio metrics become very inexpensive, the value of the advisor's counsel on what to do with all the metrics becomes invaluable. LPL's acquisition strategy only makes sense if it breaks with the brokerage/insurance industry in advancing the expert standing in advisory services. Smaller RIAs, who have scale, are technologically adept, steeped in expert prudent process and a more modern approach to portfolio construction and management will easily lead the industry in productivity. The industry's inability to support expert advisory services opens the door for innovation, which is the path LPL must follow for market leadership. Leadership in the advisor's value proposition and pricing to the consumer will determine the fate of LPL. The question is how adept are the LPL brokers in rendering lower cost expert advice if properly supported. SCW
Andrew Brief

Andrew Brief

August 21, 2017 — 12:01 AM
Size matters little when service cannot keep up with growth. With so much emphasis on growing, one wonders if advisors and their clients will suffer. Most B/D struggle with this balance. Time will tell.

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