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Content tagged "LPL"

LPL Financial

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Robert Moore: We like transparency.

LPL sees bright spots amid sideways 4Q earnings report
The firm is buoyed by increase in advisors, a perceived edge in the 401(k) segment and interest generated by the Fortigent deal

Wednesday 2.8.12
Michelle Smith is looking for ways to handle growth.

Dynasty Financial and Black Diamond combine to pick off a big family office helmed by women
Alexandra & James Wealth Management uses the duo to replace Fortigent as it nears $1 billion of AUA

Friday 1.20.12
Chip Roame: They can offer a traditional payout of 40% or so and pay for personnel, rent, technolog or they can pay a higher payout.

Wirehouses will create their own independent models, Tiburon report says
WIll 2012 be the year that wirehouse 'halfway houses' catch fire?

Thursday 1.19.12
Andy Putterman: It couldn't be any more offensive.

LPL makes big advance into the RIA business with Fortigent acquisition
The kingpin of product-based mass affluent advice now has a major beachhead with high-net-worth investors

Tuesday 1.3.12
John Hyland: If you compare that to LPL itself, that's a more competitive comprehensive structure.

How LPL's biggest branch office added $3.5 billion this year by beating LPL itself with a key service
Private Advisor Group brought 22 compliance-minded advisors onboard this month alone to its RIA -- all with the blessing and help of its big IBD partner

Tuesday 12.20.11
Is LPL chairman and CEO Mark Casady looking to add a jewel to the the mammoth B-D's crown?

LPL and Fortigent may be cooking up a merger, sources say
A strategic alliance could give LPL access to VIP RIAs and make Fortigent's highly customized offerings more profitable

Tuesday 12.6.11
Catie Tobin: RBC intends to double its RIA assets from $10 billion to $20 billion by 2015.

A peek inside the rising RIA custodians fighting to overtake the Big Four
RBC, LPL, TCoA, Scottrade and National Advisors Trust are all pushing to gain the critical mass to get past also-ran status

Tuesday 11.29.11
Frank Reilly: San Diego is not New York, San Francisco or even L.A., so you have to look outside the box.

Saudi Arabia-fueled RIA adds an academic to its oil-rich mix
Reilly Financial Advisors has a longstanding pipeline to Saudi Arabia and now has a Yale Ph.D. on board as its chief economist

Thursday 11.17.11
Randy Long: I'll be calling all of their clients.

The head of a $12 billion RIA spars with UBS and LPL execs on the great fiduciary debate
Retirement-plan leaders grapple with different degrees of fiduciary and how best to address advisors and clients

Friday 10.21.11
Joseph Bonasera: The fact that Commonwealth allows its advisors to act as a fiduciary is critical to our business.

Commonwealth edges out LPL to nab the $1.2 billion retirement firm just down the road
Summit Financial wanted greater pension expertise

Wednesday 10.19.11
TD Ameritrade Institutional is moving staff into this San Diego building as part of its growth

What's happening at RIABiz this week and why it matters
We've got our eye on TD Ameritrade's growth, do-it-yourself hedge fund analytics and two elite conferences starting Wednesday

Monday 10.10.11
Jeff McClure: I still only have half the net income I had as a broker-rep, but it is a very reliable and consistent income.

Two Texans talk turkey about moving from an IBD model to an RIA model
Jeff McClure was able to bring Sean Kernan closer to his way of thinking by letting him in on his experiences

Friday 10.7.11
Dan Arnold impressed his bosses with his recent performance.

LPL Financial names a strategy czar
The big IBD puts Dan Arnold into the newly created position

Tuesday 10.4.11
Ed Gjertsen: It's the microwave generation.

Trust Company of America is giving RIAs more weapons for free-wheeling
New technology puts advisors and clients literally on the same virtual page

Thursday 9.29.11
Chuck Olsen: Our decision was made before the Ladenburg purchase was even announced.

Three more major firms decamp from troubled Securities America to Commonwealth
The embattled Omaha IBD did not go down without a fight and it may be effectively slowing further losses with retention bonuses

Friday 9.9.11
David Darnell spent time today letting Merrill Lynch brokers know that he's a banker sympathetic to generous brokerage compensation.

David Darnell tells Merrill Lynch advisors he won't mess with their pay
But recruiters say all comp factors don't necessarily show up on the official payout grid

Thursday 9.8.11
Bernie Clark: We win a disproportionate share of business.

Schwab Advisor Services is nearing $800 billion of RIA assets but analysts are split over whether it can continue to dominate
Fidelity keeps flexing its muscles as Schwab raises its hybrid-friendly profile, reaches out to IBDs and rolls out an ambitious vendor platform

Tuesday 9.6.11
Gene Goldman: I had butterflies in my stomach because I was so excited about the opportunity to work here.

Commonwealth, Cetera and The ETF Store take notable actions
Commonwealth replaces Fidelity technology; Cetera snags Gene Goldman; an LPL vet, and upstart ETF Store takes another page out of Adam Bold's book

Monday 8.22.11
Mark Casady and other LPL execs were front and center at the exhibit hall available to talk to advisors.

Six important things I learned about LPL at its focus11 conference in Chicago
Amid market madness, LPL announced that it had a rollover plan, gave its blessing to advisors starting their own RIAs and much more.

Wednesday 8.10.11
LPL has taken over McCormick Place in Chicago

LPL keeps advisors abreast of careening markets at focus11 conference
Responding to a crisis situation, LPL adds computers, televisions and market updates to the mix

Tuesday 8.9.11
Bill Dwyer: We decided you were right.

What's behind LPL's decision to slash its ticket charges for advisors
The IBD is in a generous mood as it also pays dues to FSI on behalf of thousands

Tuesday 8.9.11
Watson is expected to help achieve the company's goal of establishing increased personal contact with advisors

LPL lures a TD Ameritrade talent across the San Diego street
Mike Watson will bring his practice-management expertise to 1,400 LPL reps

Friday 8.5.11
Bill Dwyer: They probably just wore us down. The press just asked for more and more access.

LPL opens focus11 to reporters for first time - with provisos
With the big IBD's business mix tilting more toward RIA custody, more open media policies seem to have followed

Friday 8.5.11
John Smallwood: We knew we made the wrong decision but that was July 2008 and the world blew up and we were stuck.

Three advisors tell why they fled Securities America for Commonwealth
Scandal soured the advisors on the Securities America and set them on a search for a firm with a compatible culture

Wednesday 8.3.11
Larry Roth: We're attracting more interest and more advisors [than at any time] since I've been in the business. It's not luck. It is our size, scale and platform.

Larry Roth has AIG playing offense again in the advisor game
The CEO is looking for big acqusitions and ways to compete for big RIAs

Friday 7.22.11
Ron Carson is getting information to clients faster: 'Now we have our own compliance process.'

Ron Carson quickly sees benefits of converting his practice to an RIA
Positive client feedback centers around faster flow of information under new compliance arrangement

Wednesday 7.20.11
Dave Welling may play a pivotal role in whether Advent's Black Diamond acquisition makes the combined entity more like the Google or Microsoft of portfolio management systems.

Five recent articles that show the RIA business just keeps hitting milestones
Advent buys Black Diamond, Carson goes RIA, Duran champions consolidation, Schwab goes full-out into franchises, Brightscope grades RIAs

Tuesday 6.21.11
Bruce Levitus is betting that a $2 million first-year hit will pay off in gains longer term.

AIG's Advisor Group introduces a 100%-payout for big RIAs as part of a massive revamp of its fee-based platform
The company is seeking to address the issue of having 65% of its advisors still managing assets themselves rather than using managers

Thursday 6.9.11
Jon Eaton: We think there’s much more than a niche; we think we have a better solution.

LPL Financial confirms that Akellian hire means big plans for its clearing services
The firm is eying fellow IBDs as customers and it aims to gain footing with Pershing and NFS

Friday 6.3.11
David Akellian was the boss of Derek Bruton (pictured here) at Merrill Lynch's Broadcort and the two will work under the same corporate roof again.

LPL brings aboard a godfather of clearing business
David Akellian left his position as RIA chief of Stifel Nicolas yesterday and is jumping to the IBD giant to diversify its business model

Friday 5.27.11
Ruth Papazian held top marketing positions at many of the industry's big-name firms.

LPL's chief marketing officer departs
Ruth Papazian made her mark in four years

Friday 5.27.11
John Moninger: We think we’ve struck a great balance.

LPL has a new high-margin, high accolade advisory platform but SAM's sticking around
Under Model Wealth Portfolios, the advisor stops picking investments, but they still pick strategies.

Tuesday 5.24.11
Barnaby Grist: We’re starting with large advisors and there’s quite a wait list.

Cetera spends millions on rebalancing software to make its reps more RIA-like
Automation of investment management using Folio Dynamix follows Advent implementation

Monday 5.16.11
Ron Carson is training -- and recruiting -- out in the Arizona desert.

Eavesdropping: Ron Carson gets an electric reception at his PEAK event, and calms the waters surrounding his new RIA
A peek inside the Excell conference

Friday 5.6.11
Success for Ron Carson (far left) is measured in summits, both of the mountaintop variety and billions of AUM. LPL's soon-to-be mega-RIA principal is photographed here on Mt. Ranier south of Seattle.

Why exactly is Ron Carson forming an RIA and why is it happening now?
LPL still works as a custodian for his $3-billion practice, but the lack of custodial flexibility was hurting his plan to bring on scores of new partner firms

Wednesday 5.4.11
Ron Carson: We want to continue to stay ahead of the competition and this required a move to our own RIA.

LPL's biggest rep, Ron Carson, will convert his firm to an independent RIA
The big IBD is staying in the picture but Carson is also forming its own broker-dealer; Schwab, TD Ameritrade get assets

Monday 5.2.11
Bernie Clark: Why would you claim the middle ground of being a quasi-employee (at an IBD) with a lesser brand name?

Virtually all big IBD reps covet the independent RIA life, Schwab study says
Schwab's Bernie Clark and TD's Tom Nally see IBD reps undergoing a palpable mood switch, but Fidelity's Mike Durbin and Pershing's Mark Tibergien are unconvinced

Tuesday 3.29.11
Monument Wealth Management designed its office around its 200-square-foot Planning Room, where partners use custom-made glass panels to offer clients a free, detailed look at their finances.

Advisor Spotlight: Monument Wealth Management shows that A-plus office space isn't just for ad agencies and law firms
The former Merrill brokers moved to a bedroom community but kept the urban chic

Monday 3.21.11
Wayne Bloom knows first-hand that his advisors are being courted by other firms. “I even had an RIA try to recruit me."

Commonwealth raises payouts for big advisors and slashes trading commissions
The IBD is competing with LPL, holding ground against RIAs and flexing its muscles, analysts say

Monday 3.14.11
Ben Marks: It would defeat the purpose of the hybrid model if we were to custody with other brokers.

How LPL lured advisors from Raymond James, UBS and Ameriprise to its hybrid RIA platform
The big IBD is rapidly growing an RIA custody unit with advisors who want to do fee business in a brokerage environment

Wednesday 3.2.11
John Moninger: It’s about growing the overall wallet.

An inside look at why LPL Financial is leading the charge with fee-based variable annuities
Sun Life and Harbor Lights Financial among those reporting the program's early success

Friday 2.18.11
Bob Oros: These people were working big-box brands.

Trust Company of America's hiring blitz nets a veteran sales team
In five months, Bob Oros has poached away talent from Schwab, LPL Financial and New York Life

Friday 2.11.11
Bill Dwyer: One of the reasons we’ve had this growth is that we’re a melting pot of advisors from different channels.

What LPL's Bill Dwyer had to say about recruitment, and pressure from custodians
All eyes are on the biggest IBD -- which can be a good or bad thing for it

Wednesday 2.2.11
Sharon Daniels: With the various branches at Banyan, this will give us immediate opportunities to meet personally with more of our clients.

In a triple merger, fast-growing Florida RIA scoops up an LPL advisor and a fellow asset manager to double firm size
More deals involving IBD advisors on the horizon as shift to fees makes combinations possible

Tuesday 1.25.11
Paul Reilly: This acquisition reflects Raymond James’ growth strategy as we expand our already significant capital markets reach while adding to our strong private client presence in some key markets.

Raymond James adds 20 advisors, and their $1.9B of assets, as part of investment banking purchase
The Florida broker-dealer sees promise bringing Howe Barnes Hoefer & Arnett clients onto its wealth management platform

Thursday 12.30.10
Adam Antonaides: It’s a compentency that broker-dealers are going to have to deliver.

First Allied, LPL aim to sell customized 401(k) plans for the small business market
Adam Antoniades sees 'giant asset-gathering mechanism' building from investments in ERISA talent

Wednesday 12.15.10
Dan Seivert: Several factors that may pave the way for LPL to turn public.

10 reasons why LPL Financial could pull off a hot IPO in a cold market
The big IBD touts its big size, big growth and big recruiting opportunity in SEC filing

Wednesday 11.17.10
Charles Roame: I think that the point is to make a partial public offering, frankly a minority one, create a public capital value and allow the firm to use additional stock to make acquisitions.

What to make of LPL nearing a successful -- but scaled back -- IPO
It made concessions on price but gaining a public valuation may be mission accomplished for now

Friday 11.5.10
Ben Marks: We had many clients ask us, once the market downturn took place, why we were still at UBS?

How a UBS skull session was complicit in showing this advisor the path to independence
The final straw: clients openly asked why he was still with a wirehouse

Friday 10.29.10
Daylian Cain: Disclosure is like a sugar pill. If it somehow relaxes us, than it does real harm.

What we all feared: 'Better' disclosure yields worse results, according to Yale professor's study
At an exclusive think-tank style conference on the Potomac, industry leaders heard the psychology behind investors' rosy view of the world.

Monday 9.27.10
Pat Allen: From the bottom up and from the top down, wirehouses and broker-dealers are working toward enabling advisors to participate online.

What three highly wired financial advisors have to teach us about social media
Blogs may be the most influential -- and most forgotten -- form of social media

Wednesday 7.21.10
Barnaby Grist: If you fit into the LPL box, that’s a great place to be, but if you like to do things your own way, you probably want to go to an environment that’s more customized to your needs.

Cetera Financial shores up its technology as it prepares to take on LPL for big hybrid RIAs
The face-lift of the old ING broker-dealers is starting with a big investment in Advent Software

Wednesday 6.23.10
Mark Tibergien: To advisors, broker-dealers are the Soviet Union and FINRA is the KGB.

Why advisors see FINRA as the devil
A conversation with Richard Brueckner and Mark Tibergien lends perspective to this widely held view by RIAs of the b/d regulator

Tuesday 6.22.10
The new working relationship of Vere Reynolds-Hale and Matt McGinness was helped by trust and San Diego connections

Former LPL execs reunite to compete for big hybrid RIAs -- this time with a smaller IBD
Matt McGinness joins Reynolds-Hale at First Allied and the two men plan to move quickly to execute plans

Friday 6.18.10
The breakaway team held conference calls with LPL in David Armstrong's car.

Two years later, a Merrill Lynch breakaway team has no regrets
No one took a pay cut, no one is answering to a manager anymore, and there's never a question about buying a stapler

Friday 5.21.10
Rich Arzaga: Employees probably hate change, and might view you as Satan for driving the bus that leads them to hell.

How I survived switching custodians twice in one year, and how you can, too
A new home more to your liking lies at the end of the road, but it can be a bumpy journey

Thursday 5.13.10
Red Goldstein: All we have ever known in the financial business is folks leaving one wirehouse to go to another wirehouse.

This Merrill Lynch team leader broke away for fear of what might happen under Bank of America
Red Goldstein loved Merrill Lynch but he deemed any chance of increased restrictions too risky to his business model

Tuesday 4.20.10
John Peluso: He leads a network that offers a middle way when it comes to independence.

Wells Fargo emerges as independent channel competitor
Third-largest wirehouse had a banner year in 2009, in space inhabited by LPL, Raymond James

Thursday 4.15.10
Legislators haven't been under this much pressure to reform financial services since after the Great Depression.

Regulatory Wire: Everything an RIA needs to know about the reform agenda in Washington
If major change doesn't occur, it won't be for lack of effort

Friday 4.9.10
Christopher Dean, managing director of Summit Partners in Boston, invested VC money in RIAs

10 things that show the RIA movement is really heating up in 2010: Part I
Observers need a scorecard to keep track of all the advances that RIAs are making

Monday 3.22.10
James Poer: NFP Securities has undergone a vast evolution and now aims to serve a broader market.

With Schwab [and maybe Fidelity] as custody partners, NFP is positioned to make a run at the hybrid market
If NFP IndeSuite catches on, the success could make up for some struggles on the roll-up side of the business

Friday 3.19.10
Charles Huebner: You can see it in their eyes. They say: You can tell what it is like to take the risk.

Two senior UBS brokers pass on retirement to pursue aggressive breakaway plan
Huebner and Jagger are winding up, not down with multi-faceted growth strategy

Tuesday 3.16.10
Arthur Tambaro: It validates all the work we have done and the technology we continue to develop

How Royal Alliance won a big-time RIA after a string of losses
Rehmann Financial loves the AIG subsidiary's alliance with Pershing

Friday 3.12.10
George Tamer let it be known that technology without a dedicated effort by the financial advisor won't yield great results

The T3 conference hit its stride Friday with key speeches and a hum of activity
An IBM big wig cleared up some issues surrounding 'cloud' computing

Monday 2.22.10
Bernie Clark: We will be spending a great deal of money

Schwab is a big custodian with plans to step it up in 2010
Bernie Clark will have a juggling act of keeping service top notch and shoring up the hybrid offering

Wednesday 2.17.10
Joel Bruckenstein says it was the final straw when his speech at a big industry conference got bumped into nighttime.

The T3 conference has a rebellious air and the makings of success
Bruckenstein and Drucker channeled their frustration about industry conferences into creating a tech mecca for RIAs

Friday 2.12.10
Derek Bruton's hybrid RIA platform receives an endorsement from an unlikely source: Morgan Stanley

Top 10 findings of Morgan Stanley report include: Schwab as the best RIA custodian, LPL for highest advisor satisfaction
Wall Street's endorsement of the RIA model is a sign of the times in the industry, analysts note

Tuesday 2.2.10
Brooke Southall: The Custody Project has grown to do justice to the scope and quality of the material it covers

Asset Custody Project rolls forward
The scope of the RIABiz plan for 2009 recaps and 2010 outlooks of RIA custodians took on a life of its own

Monday 2.1.10
Terry Reitan called Trust Company of America a well-kept secret when he came aboard four years ago.

CEO Terry Reitan retires from Trust Company of America
Former Fiserv ISS chief presided over four years of stunning growth

Friday 1.29.10
Patrick J. Burns: I'm not sure the SEC or FINRA has the stomach for a return to the days of heavy litigation.

Broker protocol may be endangered by complexities as membership starts to explode
Merrill Lynch, LPL and Ameriprise create addendums to once-sacred truce; they may spark an unfavorable trend

Friday 1.29.10
Derek Bruton is now in charge of LPL's hybrid business after years of RIA experience with Merrill Lynch, TD Ameritrade and Schwab

LPL's hybrid RIA platform is fast off the mark and names new leaders for 2010
The giant IBD has already surpassed Raymond James' RIA assets but Derek Bruton plans to build on momentum

Monday 1.25.10
Bernie Clark: We’ll continue to build the connectivity that will make it better

A giant is awakening in the hybrid RIA market
Schwab vows to spend big in 2010 and 2011 on better connections to IBDs

Thursday 1.14.10
Hybrid tomatoes have their advantages and so do hybrid RIAs

5 Reasons why the hybrid RIA model may be a bigger deal than ever
Someday all advisors could be hybrid-like under FINRA

Thursday 1.14.10
Expect to hear more in 2010 from Mike Durbin, who leads Fidelity's fast-growing RIA custody unit

Percolating: RIA custody roundup for 2010
New faces, new programs, new technology and new assets

Thursday 12.31.09
John Furey: Top advisors only engage professionals referred within their networks

Deal killers for almost-breakaway brokers
How to break the dam of 60,000 wirehouse employees

Wednesday 12.9.09
Like Tom Turkey, many RIAs were thankful to survive 2009

Taking A Break From the Turkey?
RIABiz's top 10 stories from the past month offer a window into what RIAs care about

Thursday 11.26.09
Doug Swope: There’s no independence per se [at a wirehouse]. You’re [restricted] by the [inventory of] products.

Independent-within-Smith Barney breaks away after hitting wall
Former Smith Barney peers light fuse for Swope independence

Wednesday 11.18.09
Tom Ruggie: "Some things I’ve been pleased with and some things I’ve been disappointed with but both [Raymond James and LPL] are bending over backward to [help] and keep the business.”

Why Raymond James is getting an LPL advisor's wealthiest new clients
Tom Ruggie started a new RIA but kept his LPL practice intact

Tuesday 11.3.09
Patrick Sullivan has brought 80 fellow advisors under his firm's compliance umbrella

LPL Financial wins more breakaway brokers by sacrificing a revenue stream
Morristown Financial Group finds lucrative niche by taking over some supervisory duties from fellow brokers

Wednesday 10.21.09
Bernie Clark: Team liftouts have contagious effect

Top 10 things I learned at Schwab IMPACT about the smoldering breakaway movement
Wirehouses do little to resist leakage of talent

Thursday 9.17.09
Barnaby Grist: Big brokerage teams came out of hibernation

Breakaway broker signings rocket ahead in July
Big mood shift has brokers seeking the dotted line to become RIAs as stock market rebounds

Monday 8.17.09
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