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
LPL Gets ‘Commitments’ from Waddell Advisors Serving 80% of Assets
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.
LPL Reels in UBS Pennsylvania Team with $245 Million Book
Wirehouse veterans broke away last week to launch their own practice, Washington Crossing Financial Group, named for the town where they are based.
Finra Fines LPL $6.5 Million over Broad Supervisory Failures
The nation’s largest independent broker-dealer failed to maintain proper supervision of record retention, fingerprinting and screening of associated persons, consolidated reports.
Wirehouse Advisors in Florida, L.A. Jump to ‘Boutiques’ Rockefeller, Alex. Brown
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.
Wells Broker Leaves for LPL, Sues to Fend Off TRO
Wirehouse veteran in San Diego preemptively asks court to prohibit Wells from suing him the same day he registers as an independent broker.
LPL to Buy Waddell & Reed’s Brokerage Business for $300 Mln
Deal adding about 900 Waddell advisors to LPL’s more than 17,000 is expected to close by middle of 2021.
RBC Promotes Practice Management Head to Run Pacific Northwest
Nate Angelo will oversee 137 brokers in ten offices as one of RBC’s 21 complex directors in the U.S.
Commonwealth Aims New Recruiting Deals at Wirehouse Brokers
Independent broker-dealer is raising transition loans and constructing new payout grids to attract big-firm brokers seeking to run their own advisory shops.
LPL Lures Arizona ‘Enterprise’ Team from Securities America
Shift of “office of supervisory jurisdiction” with about 30 advisors servicing $1 billion to LPL follows 10-year affiliation with unit of Advisor Group.
LPL Hires RBC Arizona Team to New Channel
Trio managing $380 million is the fifth to join new Strategic Wealth Services unit launched for employee-channel producers seeking more support than typical LPL independent contractors.
R.J. Moore, Independent Brokerage Notable, to Run Giant LPL Affiliate
Former CEO of Cetera and president of LPL buys stake in $21.7 billion-asset Private Advisor Group and becomes CEO of the 650-advisor LPL brokerage practice.
