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LPL shares skyrocket near to $72 after signaling to Wall Street a cheaper, better way to lure assets and advisors

The Fort Mill, S.C.-based firm may cut salaries and commissions to recruiters and give advisors more benefits directly

Author Brooke Southall May 22, 2018 at 4:12 PM
Admin:
no description available
Dan Arnold: Our principle here is to use our strength in a more agile way.

Jeff Spears

Jeff Spears

May 22, 2018 — 6:16 PM
Recruiting is seasonal and cyclical.Deal structure and firm's brand win the day. Since deal structures and firm strategies and leadership change often. Advisors require a unbiased guide. Unfortunately there are not and fiduciaries in the mix. Friends and other advisors can address this void. References can help.
Ron Edde  FA Recruiting & Mergers

Ron Edde FA Recruiting & Mergers

May 22, 2018 — 8:44 PM
I have argued for years that companies which choose to maintain internal recruiters are overpaying for those services, as employees cost much more than independent contractors (external recruiting firms). Seems like LPL may finally be recognizing the indisputable truth in that equation.

Related Moves

UBS bets its 'wealth' future on ex-Schwabbie Naureen Hassan, a corporate digital A-lister, who analysts give a fighting chance to transcend PaineWebber's ossified culture

Still a $2-billion cash-flow cow, the Swiss bank's 6,000-broker, US-based wirehouse is milking aging broker relationships with aging investors but needs a new kind of human presence, empathy, mindset and smarts to draw in Gen Z.

July 16, 2022 at 1:35 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

Diamond Consultants
Recruiter
Top Executive: Mindy Diamond



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