The nation's largest independent broker-dealer is offering recruits a percentage of AUM to come on board, an offer one recruiter called 'the best deal that's out there.'
CEO says its acquisition of Alex. Brown has helped the firm recruit advisers with wealthy clients, but that it hasn't found a similar company to buy on the West Coast.
The move, in line with other price reductions at the broker-dealer, could help LPL attract advisers.
She claims LPL informed her previous broker-dealer prematurely that she was leaving the firm.
He says the proposal is more appropriate than the DOL fiduciary rule.
A perennial member of Barron's list of top financial advisers, his team managed nearly $3 billion in client assets
The wirehouse reduced recruitment loans 20% and increased bonus loans 68% in the first quarter.
With revenue up, interest rates rising and regulation easing, IBDs are soaring.
Rewarding brokers who sign up new high-net-worth households — and penalizing those who don't — is working, according to the firm.
Sanford C. Bernstein & Co. analyst Christian Bolu, concerned over stalled adviser growth and what it means for lending and deposit growth, believes the stock will "under perform."
