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.
LPL
Arbitrator Empathizes with Fired Broker over 251-Page Compliance Manual, Erases U5
Bradley R. Thompson, a 22-year broker now with Kovack Securities, was successful in expunging from his record a 2016 violation from LPL Financial over an “infraction of firm policy concerning loans.”
$1.6-Mln Wirehouse Vet Waves Goodbye to Morgan Stanley, Hello to LPL Affiliate Gladstone
Francis Ciocari, who had logged eight years at Morgan Stanley and 15 at Merrill Lynch prior to that, managed $300 million in client assets, according to an announcement.
LPL Lures $185-Mln AUM Wells Team to Fledgling Employee Channel
Duo in Richmond, Virginia, are the fifth team to join the ‘Linsco’ channel that opened its doors one year ago.
Brokers Take Their Business to the Bahamas, Motorcycle Rallies in Remote Era
A boat moving through waters near the Bahamas? A Harley-Davidson at the Sturgis motorcycle rally in western South Dakota? Or just beside your pool? In the remote era, the next frontier is still a question mark.
$5.5-Mln Oppenheimer Broker Jumps Early to LPL After Word of Move Leaks
Broker who generated around $5.5 million in annual revenue ramped up exit plans after Oppenheimer managers caught wind of his impending departure, according to a source familiar with the move.
LPL CEO Tweaks Wirehouses, Custodians as Firm Looks to Grow Beyond Its Indie Roots
Dan Arnold, who leads the nation’s largest independent broker-dealer, criticized wirehouses for treating advisors as cost centers and raised concerns about channel conflict for major custodians.
LPL Touts ‘Strongest’ Recruiting Quarter Based on Assets
LPL Financial’s $35 billion in recruited assets brought onto its platform in the second quarter, spurred by recent additions from BMO Harris Financial Advisors and M&T Bank, was more than triple the amount reported in the year ago quarter.
Ex-Morgan Stanley Broker Fired Over Account Coding Issue Joined at LPL by Former Colleagues
The three-broker Los Angeles-based team, which had managed $700 million in client assets, has reassembled at LPL Financial’s fledgling channel for wirehouse breakaways.
LPL Affiliate Stratos Nabs Former Wells Regional Manager
Robert Samson, whose job was eliminated as part of a regional restructuring at Wells, will be focused on recruiting for Stratos in the Chicago area, he said in an interview.
$6.7-Mln Wells Team in Maryland Departs for LPL’s Breakaway Channel
The Wells team, led by 47-year industry vet Larry Boggs, is the eighth group to join LPL’s Strategic Wealth Services since the channel’s launch last April.
Finra Sanctions Ex-LPL Broker Over ‘Outside’ Notary Biz
The case reflects what compliance officials say is a heightened regulatory focus on brokers who engage in outside business activities without notifying their employers.
