LPL Financial Holdings Inc. was founded in 1989 and is considered the largest independent broker-dealer in the United States. As of 2018 the company had more than 16,000 financial advisors, over $681 billion in advisory & brokerage assets, and generated approximately $5.2 billion in annual revenue for the 2018 fiscal year.
Broker who fabricated documents to help clients avoid annuity surrender fees agrees to two-year suspension and $10,000 fine.
New Orleans-area advisor who was managing $145 million at a Chase branch allegedly violated employment agreements by soliciting former clients.
LPL CEO Dan Arnold said it is having an “ongoing dialogue” with the remaining undecided Waddell & Reed advisors ahead of the mid-year closing of the deal.
Wirehouse veterans broke away last week to launch their own practice, Washington Crossing Financial Group, named for the town where they are based.
The nation’s largest independent broker-dealer failed to maintain proper supervision of record retention, fingerprinting and screening of associated persons, consolidated reports.
Broker with more than two decades of experience at Morgan Stanley joins Rockefeller’s fledgling Boca office and 39-year California advisor signs on with RayJay’s Alex. Brown.
Deal adding about 900 Waddell advisors to LPL’s more than 17,000 is expected to close by middle of 2021.