LPL retains $4.3 billion at The Planners Network

The association of small advisers had been affiliated with the recently-acquired NPC

Dec 7, 2017 @ 3:05 pm

By InvestmentNews

The more than 75 advisers who constitute The Planners Network—and manage, administer or advise on more than $4.3 billion in assets—have individually decided to stay with LPL Financial.

Most of TPN's advisers operate as single-person or small offices. The shops were formerly affiliated with National Planning Corporation. LPL acquired the assets of NPC's parent, National Planning Holdings, in August. NPH also operated three other broker-dealers.

(More: LPL and NPH: The biggest teams to flee the merger.)

TPN was formed 18 years ago by advisers at NPC who joined to create scale in business operations and to provide opportunities for professional growth through educational programs and networking resources.

The collective is managed by a board of directors and a chief operating officer, Kären Locklin, who works on behalf of the firms in the group.

0
Comments

What do you think?

View comments

Recommended for you

Featured video

INTV

What's behind the TCA, ETrade deal?

Deputy editor Bob Hordt talks with senior columnist Jeff Benjamin about what each party in the recent acquisition stands to gain by joining forces.

Latest news & opinion

HighTower on prowl for new CEO, Weissbluth to become chairman

Move is latest in Chicago-based RIA consolidator's effort to expand senior leadership team.

What's in a name? For TCA by ETrade, everything

Trust Company of America is gone, and there's big buzz over the name change. But turning the custodian into an industry powerhouse will take a lot longer — if it happens at all.

When it comes to regulating AI in financial services, murky waters are ahead

Laws are unclear on how the technology fits in with compliance.

As Ameriprise case shows, firms on hook when brokers go bad ​

The SEC will collect $4.5 million from the brokerage firm for failing to supervise brokers who were ripping off clients.

10 highest paid professions in America today

These are the top-paying jobs in the U.S., according to Glassdoor.

X

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 investmentnews.com? It'll help us continue to serve you.

Yes, show me how to whitelist investmentnews.com

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

X

Subscribe and Save 60%

Premium Access
Print + Digital

Learn more
Subscribe to Print