The key to whether exiting brokers can beat temporary restraining orders from wirehouses is how they handle client information.
Weiss urges advisers to remain upbeat as news breaks of another potential scandal at the firm.
At least one analyst thinks so, noting that LPL has acknowledged that M&A is a good use of the company's capital.
LPL advisers reported a slowdown in the company's new ClientWorks system that prevented some of them from making trades.
LPL said earlier this month that it was on track to move over 70% of NPH's revenue.
Company emerged from bankruptcy less than two years ago; plans to brief advisers Tuesday afternoon
Ruckus over recruiting agreement has even wirehouse lifers wondering if it's time.
Those in a private LinkedIn chat room were sounding off about fears the independent broker-dealer will require a move to ClientWorks before it is fully ready.
Raymond James, LPL Financial and RBC Wealth Management also saw strong net gains in recruiting during the quarter.
By acquiring or launching a bank, the firm would be able to recapture more profits from holding cash deposits.
