RIABiz

News, Vision & Voice for the Advisory Community

RIABiz

LPL cannibalizes executive talent and launches mass-market entity

If anyone can crack the uncrackable low-end market, it's Esther Stearns, analysts and headhunters say

Author Brooke Southall April 19, 2012 at 4:35 PM
Admin:
no description available
Mark Casady is taking his most proven talent and giving her a challenge with a potentially momentous payoff.

Stephen Winks

Stephen Winks

April 19, 2012 — 8:26 PM

Very smart move.

Merrill is focused on the retail market ($100,000 to $1.6 million where estate planning kicks in), HNW ($1.6 million to $5 Million) and ultra HNW ( $5 millio plus) space and several noteworthy firms are focused on $25 milion plus individuals, but who is focusing on the mass market ?

The mass market has the most investors with the least assets, the least complex circumstances that is greatly benefited by scale and technology. If done properly superior value can be provided at a lower cost to great client benefit. LPL could own the mass market and greatly elevate the role and counsel of the advisor by delineating a range of services and value added that requires sophistication and scale at a cost which would be formidable for unaffiliated advisors to replicate taking full advantage of advanced expert prudent processes and technology.

Market segmentation of expert personalized advisory services is faster, better and cheaper if support is made scalable and easy to use as a business enterprise, rather than a series of disjointed unrelated commision product sales.

This is terribly empowering for advisors, who have here-to-fore have had to reinvent the wheel and have had no market segment specific support for actually advising clients rather than selling products. Brilliant !!!!

This is the beginning of a new level of market leadership which will transform the industry. LPL is putting the advisor on their back and greatly elevating their role and counsel. An unprecedented level of investment and administrative counsel is expertly provided at less cost than a packeage product, the advisors professional standing is established, a much higher level of client service is achieved, LPL achieves a much higher profit margin and the advisor is no longer in it on their own in creating and supporting expert counsel.

This is beyond brilliant and outdates conventional product support with comprehensive expert client specific solutions !!!!

SCW


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

Bill Crager is dropping CEO role after multiple shoes dropped; the company insists it was his 'decision' but vision, Yodlee future uncertain

The co-founder of the $5.3-trillion AUA outsourcer of software and investments was pressed to take the job under the most adverse circumstances, then second-guessed by stakeholders as he managed the cards he was dealt.

January 9, 2024 at 4:09 AM

Orion rescinds RTO order after its staff rebels by hijacking company email list, distributing petition and tipping off RIA media

CEO Natalie Wolfsen suffers first setback and rescinds a return-to-office (RTO) policy after week of protest to work on a more collaborative agreement on a post-COVID new normal

November 23, 2023 at 12:20 AM

Seven 'RIA' chief executives are stepping aside for CEO 'operators' as PE backers get 'trigger' happy in adverse market; here are their stories

Whether it's Edelman Financial Engines, SMArtX, Allworth or InvestCloud, the re-CEO-ing process follows a fat 2020 capital raise and thinner results in stormy financial markets.

September 7, 2023 at 9:46 PM

See more related moves

Mentioned in this article:

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



RIABiz Directory

The Industry Sourcebook for RIAs

   |    LISTING


RIABiz Directory sponsored by:

Directory Sponsor Logo