LPL Financial was founded with a pioneering vision—to help entrepreneurial financial advisors establish successful businesses through which they could offer truly independent financial guidance and advice.
*Source: Company website
LPL Financial saw mixed results in the first quarter, with lower earnings and net new advisory assets and record net revenue and advisory and brokerage assets. ...
RIA aggregator Concert Advisor Services has launched a new hybrid platform, Concert Advisors, and partnered with independent broker/dealer LPL Financial to provide brokerage and custody services....
Raymond James Financial said it is moving its registered investment advisor unit out of Raymond James Financial Services, its IBD division, and setting it up as a separate division with its own president. ...
While other firms suffered in the fourth quarter on slow client activity, LPL Financial (Nasdaq: LPLA) announced earnings today of $39.4 million for the quarter, up $156 million from a net loss of $116.6 million in the fourth quarter 2010....
Don’t write off merger and acquisition activity for the registered investment advisor market in 2012 yet. Sure, market volatility and foggy economic prospects dampened dealmaking last year, according to Schwab Advisor Services. ...
The Financial Services Institute has more than doubled its advisor membership from 15,000 in 2011 to 34,000 today. Many firms are subsidizing the cost of membership for their advisors, the institute says, and it reflects the fact that advisory firms see a clear need to support the group’s work among lawmakers, both in Washington and at the state level....
Margin pressure, upheaval in advisory business models, lack of certainty in the market – most of the current trends in the wealth management industry can be traced back to the global financial crisis in 2008. Three years after the world fell apart, the industry is still adjusting to the aftershocks....
Add one more winner to last week’s blockbuster LPL-Fortigent deal: the rapidly growing business of providing outsourcing services to wealth managers....
Jan 3, 2012 5:54 PM, By Diana Britton and Jerry Gleeson
LPL Financial (Nasdaq: LPLA) has announced plans to acquire Rockville, Md.-based wealth management platform provider Fortigent, a move which executives and industry consultants say shows LPL’s commitment to the RIA space. Fortigent provides turnkey asset management, performance reporting, technology and manager research and due diligence to RIAs, banks and trust companies, as well as to breakaway brokers who serve high-net-worth clients. ...
Erado, which provides social media compliance and archiving software for broker/dealers, plans to expand its operations into Western Europe, Canada and possibly Japan next year, and expects to add at least 30 new employees in 2012. ...
In May, Ron Carson, long the No. 1 on Registered Rep.'s Top 100 IBD advisor list, announced plans to leave LPL Financial (Nasdaq: LPLA) to become an independent registered investment advisor and start his own broker/dealer. The firm made the RIA conversion in July, but days before Carson’s b/d was to be approved, he pulled the plug and decided to keep his 5 percent of brokerage assets with LPL. Carson sat down with Registered Rep. to talk about the move. ...
With overall headcount in the IBD channel declining, big independent b/ds are offering more products and better services to attract advisors with bigger books and help their own reps grow faster....
LPL Financial (Nasdaq: LPLA) announced third quarter net income of $36.4 million, or 39.3 percent higher than the year-ago quarter, and net revenue of $882.9 million, a 16.2 percent increase from a year ago. But the real buzz during this morning’s earnings conference call was around the firm’s acquisition pipeline, which LPL chairman and CEO Mark Casady said was strong....
Despite the fact that broker/dealers expect increased flows into their portfolio models over the next year, advisors’ usage of these models has declined in the last 12 months, especially among RIAs. The current market volatility will be a major test of these models, as advisors look closely at how they come out of this environment and possibly rethink their appeal, said Hari Krishnaswami, product manager for FA Vision, a joint service of kasina and Horsesmouth....
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