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Why an 18-year LPL rep moved most of his firm's $250 million of assets to Schwab

Brad Griswold had a fondness for Schwab from using PortfolioCenter and is determined to remove all obstacles to growth, profitability and offering choice to clients

Author Lisa Shidler April 4, 2012 at 3:08 PM
Admin:
no description available
Brad Griswold: Many of the changes were beneficial to the [LPL] advisors as a whole, but did not offer as much value to our practice.

Jeff Spears

Jeff Spears

April 4, 2012 — 4:14 PM

When a hybrid advisors reaches a business mix of 90/10 – a Broker Dealer becomes less important. We have seen hybrid advisors change broker dealers though when the broker dealer revenues are greater than 10% because the independent B/D’s they were introduced to by their custodian didn’t make the grade!

That is what makes a market.


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Joe Duran's second RIA act is rocking with eight staff, four co-founders and a conspicuously anti-United Capital concept that will flip RIA stakes 'eventually' as a minority investor

The United Capital founder paradoxically promises to 'passively' buy minority stakes as a backdrop for going hyper-active with quick-strike capability to apply super-consulting and technology to create explosive growth as a prelude to a sale.

November 29, 2023 at 3:23 AM

Goldman Sachs-Creative Planning deal is bleeding defectors -- 16 more last week, report says -- auguring a 'potential disaster,' analysts warn

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October 4, 2023 at 2:16 AM

Biz Briefs: AdvicePay waives key hiring requirement to land its next CEO • ESG firms may get OK in Oklahoma • eMoney adds new chiefs • CFP Board names new chair-elect • Robinhood cuts more staff

Alan Moore replaces himself with another guy with two respectable titles • eMoney promotes two • Moisand's third in line now known • Robinhood sacks 173 in year-to-date.

July 26, 2023 at 2:34 AM

Joe Duran will co-develop Goldman Sachs unit aimed at outsourcing to non-Goldman RIAs after 'magic' never materialized for direct-to-consumer RIA

The Newport Beach, Calif. RIA legend plans to shift from B2C to B2B to fix Goldman's disconnect with RIAs and play to the strengths for him and the bank

February 8, 2023 at 3:03 AM

See more related moves

Mentioned in this article:

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

eMoney Advisor LLC
Financial Planning Software
Top Executive: Edward O’Brien

SalesForce
CRM Software
Top Executive: Marc Benioff

United Capital Financial Advisers
RIA Welcoming Breakaways
Top Executive: Joe Duran

Finetooth Consulting
Consulting Firm
Top Executive: Ryan Shanks

FA Match
Consulting Firm, Specialized Breakaway Service, Recruiter
Top Executive: Ryan Shanks



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