LPL launching technology jobs initiative

JAN 07, 2013
Wow, this could be good news for all you advisers that continually complain to me about the short-comings of LPL's technology offerings. It seems the nation's largest independent broker-dealer is adding 50 technology positions on the east coast in Charlotte to create a second IT hub (the other is at LPL HQ in San Diego). That number may ultimately grow to 100 according to their prepared statement today. In that prepared statement (which I received second from a colleague, ) they describe the new positions as “high-energy technology teams in a fast-paced environment. The new positions available will include Developers and Project Managers, as well as other IT roles.” Bravo! These 50 to 100, which will be added through 2013 will join the “800 employees across a broad range of functions, including compliance, operations, business consulting, and a service center…” that are already based in Charlotte. LPL Financial (a wholly owned subsidiary of LPL Financial Holdings Inc.) and “its affiliates have approximately 2,700 employees with headquarters in Boston, Charlotte, and San Diego.” LPL's timing is interesting. I immediately thought of Raymond James, which is in the middle of re-launching its technology platform for advisers. Imitation is the most sincere form of flattery, right? No, no, no, I'm sure that is not the case. I am certain this has been in the works at LPL for months, perhaps even before Raymond James had a twinkle in their eye. I will add one additional thing I found interesting about LPL's prepared statement. It seems to have originated from an outside public relations firm I have never heard from before, Haven Tower Group LLC. I will say one thing for them, they are already more responsive than anyone else I have ever dealt with related to LPL. The two gents named on the release have already replied to an e-mail I just sent them. Another hearty Bravo!

Latest News

Advisor moves: LPL lands $700M Cambridge team, &Partners adds $728M
Advisor moves: LPL lands $700M Cambridge team, &Partners adds $728M

Meanwhile, Janney picks up a $280 million Merrill Lynch veteran in Scranton as independent and hybrid platforms keep drawing teams

Elevation Point secures Merchant backing as Emigrant Partners exits
Elevation Point secures Merchant backing as Emigrant Partners exits

The breakaway-focused minority investor has staked 15 RIAs since 2024 as private sponsors increasingly trade stakes

Veterans lead civilians on financial confidence, Wells Fargo survey finds
Veterans lead civilians on financial confidence, Wells Fargo survey finds

New data shows veterans report stronger financial security, legacy confidence and career earnings momentum than non-veterans.

CW Advisors adds $1.6B with triple acquisition push into Texas and beyond
CW Advisors adds $1.6B with triple acquisition push into Texas and beyond

Osaic subsidiary continues to forge new routes to US high-net-worth and ultra-high-net-worth people.

Client 360 is table stakes - wealth platforms must now deliver client intelligence
Client 360 is table stakes - wealth platforms must now deliver client intelligence

Capco's Matt Berkowitz tells InvestmentNews that aggregating client data is no longer enough.

SPONSORED Best Practices for Engaging Women Around Alternatives

Growing wealth, evolving priorities, and untapped opportunities are reshaping how women approach long-term investing.

SPONSORED Built on insurance experience to deliver on long-term promises

Knighthead Life entered the market with a competitive MYGA. A strong launch earned advisor confidence and paved the way for FIAs.