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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.

Ryan Shanks


Chip Roame

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.

Related Moves

April 2, 2024 at 1:28 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

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

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