Articles tagged "LPL Financial"
Dan Arnold is using force and finesse to make LPL a deal machine -- giving Atria and its brokers incentives to come aboard and Fidelity and Pershing a reason to play ball
The soon-to-be 24,000-advisor Fort Mill broker-dealer will keep existing custodians (for now), pay big retention bonuses and a generous deal kicker to Atria if it all transfers well
February 24, 2024 at 3:35 AM
LPL Financial bristles about proposed DOL rule, but roaring recruiting, including of 401(k) advisors, bodes well for 2024, according to top LPL executives
The Fort Mill, S.C., broker-dealer -- and recordkeeper -- is making strong pitch to 401(k) advisors with retirement plan expertise and rollover 'tool kit' of services.
February 3, 2024 at 3:07 AM
LPL goes straight at wirehouse crown jewels -- corner-office brokers -- by re-platooning orphaned First Republic insider and making a high payout book portable and saleable
Existing 'Linsco' full-service model needed a shot of 'nuance,' but Anna Howard is seeking to be an outright 'disruptor'
November 21, 2023 at 2:36 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
A $3 billion TD Ameritrade RIA pulls assets out of Schwab --after it cut services for TDA RIAs, and got sticker shock -- ahead of merger date
Anthony "Tony" J. Mazzali, CEO of CG Advisory Services, is shifting the bulk of its assets to LPL Financial to curb the assymetric power in his custody relationship with Schwab.
May 2, 2023 at 3:26 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
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 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
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 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
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
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 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
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.