LPL launches consulting group for large independent advisers

Will try to produce growth by improving financial management, operational efficiency and organizational design

Aug 20, 2013 @ 3:34 pm

By Mark Schoeff Jr.

LPL Financial LLC today announced that it is launching a consulting group designed to help large affiliated advisory firms become more strategic and attain higher profitability.

The biggest independent broker-dealer in the country, LPL has comprises 13,400 financial advisers and 700 financial institutions. It has established the Enterprise Management Consulting program to help its so-called “large enterprises” — collections of independent advisory practices that generate at least $5 million in annual revenue — manage their practices, and formulate and execute business strategy.

The consulting team, led by Sal Zambito, LPL's senior vice president of business consulting, will work with executives of the affiliated firms to increase growth by improving financial management, operational efficiency and organizational design.

In a statement, Mr. Zambito said that the initiative will “add maximum value to [affiliated firms'] underlying advisers' practices, and to do so in a scalable fashion.”

LPL's Enterprise Management Consulting group will operate in partnership with The Ensemble Practice, a management consulting firm specializing in the investment advice sector. The LPL initiative will help its affiliated advisory firms set strategic goals, according to Derek Bruton, LPL's managing director.

“Our large enterprise consulting model allows them the opportunity to truly focus on important C-level thinking and decision making in order to achieve the highest potential for their firms and the advisory practices they support,” Mr. Bruton said in a statement.


What do you think?

View comments

Recommended for you

Sponsored financial news

Featured video


Top questions surrounding future of DOL fiduciary rule

Reporter Greg Iacurci and managing editor Christina Nelson discuss the biggest uncertainties springing from the Fifth Circuit Court of Appeals' decision to vacate the regulation.

Latest news & opinion

DOL fiduciary rule likely to live on despite appeals court loss

Future developments will hinge on whether the Labor Department continues the fight to remake the regulation its own way.

DOL fiduciary rule: Industry reacts to Fifth Circuit ruling

Groups on both sides of the fiduciary debate had plenty to say.

Fifth Circuit Court of Appeals vacates DOL fiduciary rule

In split decision, judges say agency exceeded authority.

UBS, after dumping the broker protocol, continues to see brokers come and go

The wirehouse has seen 14 individuals or teams leave and five join for a net loss of $2.4 billion in AUM

Merrill vets ready to recharge breakaway recruiting efforts

After regrouping in wake of broker-protocol exits, Snowden Lane Partners is ready to recruit wirehouse brokers and RIAs.


Hi! Glad you're here and we hope you like all the great work we do here at InvestmentNews. But what we do is expensive and is funded in part by our sponsors. So won't you show our sponsors a little love by whitelisting It'll help us continue to serve you.

Yes, show me how to whitelist

Ad blocker detected. Please whitelist us or give premium a try.


Subscribe and Save 60%

Premium Access
Print + Digital

Learn more
Subscribe to Print