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Articles tagged "LPL Financial"


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Bruce Miller: We want to acquire a large OSJ and with what it costs to borrow money now is very expensive

LPL Financial prepares to enter the 'OSJ' channel -- this time as an owner, headed by a former executive whose staff advises $40-billion

The Fort Mill, S.C.-based IBD may thread the needle with the OSJ purchase, though it will compete with other OSJs it serves

November 9, 2022 at 1:11 AM

Marty Bicknell: This is a great solution for us long term.

Marty Bicknell suddenly has a giant LPL Financial (and mass affluent) future, just as David Canter leaves Fidelity, an executive he tried to forge a future with for mass market advice

By adding the $26-billion AUA 'hybrid' in Sacramento to his $60-billion RIA-classic, the Kansas CEO has a near $90-billion advice empire with Fidelity, Schwab and LPL vying for his patronage.

July 22, 2022 at 2:38 PM

Rich Steinmeier: I would call  [the LPL foray into full service] a huge success.

LPL Financial buys its second full-service broker after the first one 'exceeded expectations' following a three-year pilot

The San Diego broker-dealer is buying Boenning & Scattergood and its $5 billion of AUA -- and it's eyeing more regional, W-2 staff advisory shops for acquisition.

July 8, 2022 at 7:30 PM

LPL chose the Booth School as a setting to say it won't abdicate the high-net-worth market to Wall Street.

LPL Financial makes 'full-service' play with a wirehouse trick and some DFA vibes by launching 'private client' offering from the University of Chicago

The San Diego broker-dealer grew to be No. 1 by backing partially served mass affluent brokers and used a symposium at the university's Booth School as a backdrop to tell its reps they can compete with Merrill Lynch.

June 17, 2022 at 12:08 AM

LPL's Marc Cohen will discuss RIA custody fees with Michael Kitces to fill the big void left by the heads of his firms's two largest RIA custody rivals.

The 'Great Debate'--pitting Bernie Clark and David Canter against Michael Kitces--collapses after the Schwab and Fidelity custody chiefs have second thoughts

In October, Canter laid down the challenge, Clark sided with him and the Nerd's Eye View publisher and RIA advocate called their bluff.

March 14, 2022 at 2:57 AM

Rich Steinmeier (to Barron's): I don’t know that there’s a cap. I don’t. It’s not 20,000. It’s not going to be 30,000.

LPL Financial shares spike after no-drama CEO Dan Arnold delivers (near) 20,000 advisors, $1 trillion-plus in AUA and surprising Waddell & Reed wrinkle

Shares of the San Diego company rose almost 5% after leader reported $300 billion asset leap, high M&A retention and multi-channel wins.

February 5, 2022 at 2:03 AM

Robert "RJ"  Moore: [LPL is] a partner and a solution -  not the partner and the solution.

Robert Moore's first big move as chief executive and stakeholder at $49-billion AUA LPL OSJ is to strip LPL of its exclusivity as broker-dealer

The Ex-LPL executive just upped the 'coopetition' stakes by pulling Private Advisor Group closer to custodians like Fidelity and Schwab and broker-dealers like Triad Advisors.

June 3, 2021 at 2:28 AM

Bryson Pouw left Advent Software to found an Advent super-consultancy that he sold to LPL Financial for $12 million in cash -- and he gets to keep his job.

How LPL Financial is executing a big RIA-like pivot through the acquisition of Blaze Portfolio, founded by an Advent Software breakaway engineering troupe

The Fort Mill, S.C., broker-dealer just took the leap to 'personalized' portfolios by paying $12 million for the Chicago trading automation firm.

November 24, 2020 at 2:23 AM

Mark Casady: This is my third IPO so the previous two were helpful in knowing what to expect. This process was much easier

Mark Casady completes IPO of Lefteris 10 years after LPL Financial's initial public offering and plans to use the SPAC's $200 million raised to lift mom-and-pop fintechs

The former LPL CEO has a team for his Boston-based special purpose acquisition company that includes Chip Roame, April Rudin and Edelman, E*Trade and LPL alumni.

October 24, 2020 at 5:01 AM

Dan Arnold: We are creating an affiliation model that is focused 100% on an RIA-only firm.

After a decade of 'hybrid' RIA mish-mash, LPL Financial has a double-barreled '100%' RIA plan that is presumed to include 'Schwabitrade' style asset custody and a 'Dynasty' style premium back office offer

The nation's largest independent broker-dealer is finally going on RIA offense, which may prove to be a good defense upmarket and downmarket.

February 13, 2020 at 4:33 AM

Bill Crager: Broker-dealers and banks will become service providers and solution enablers for a new breed of advisor and with our partnership with Dynasty we will be able to offer support as these models emerge and evolve.

After finally knocking down a wall at LPL, Envestnet takes a minority stake in Dynasty Financial, puts Bill Crager on the board and prepares for future upmarket

The Chicago outsourcer hopes to go deeper with big RIAs and enterprises -- starting with an exchange of B2B loans and other wares from Shirl Penney's firm.

January 10, 2020 at 2:33 AM

Dan Arnold:  ‘I think, you'll likely see us thinking about that and doing something to address that.’

Dan Arnold is ready to meet 'zero' commission challenge -- albeit only for RIAs at LPL Financial

The LPL CEO says the move is part of his company's 'prioritization stack; the impact on us is more of around where we custody assets for RIAs,' he says

October 26, 2019 at 9:54 PM

Todd Thomson: In the past 12 months, it's become more of a normal [hands-off] chairman role.

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

Ashish Braganza got a crash course in investments at OppenheimerFunds. Before that he spent five years at Lenovo, which took fading brands like Motorola and IBM PCs and built them back into world beaters.

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

Ed Higham: It's not despite the employee-model, it's because of it. They see this as another channel.

LPL Financial jumps into the full-service brokerage business via acquisition -- with help from Raymond James' Silver Lane Advisors

The San Diego-based independent broker-dealer will pilot captive model with purchase of $3-billion, 30-broker Allen & Co. as launching pad

May 22, 2019 at 2:31 AM

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