LPL Financial has cut its managed-account minimum to $1,000 from $10,000. The reduction applies to the firm’s Optimum Market Portfolios, which offer investment research and professional money management.
LPL said the move was made so that advisers would be able “to offer advisory services to a larger range of clients.”
The LPL advisory platform consists of six multi-manager funds, featuring more than 10 subadvisers and institutional money managers.
OMP was launched in 2003, and has $9.2 billion in assets under management, the firm said in a release.
The "Crypto Mom" departure would leave the SEC commission with just two members and no Democratic commissioners on the panel.
IFP Securities’ owner, Bill Hamm, has a long-term plan for the firm and its 279 financial advisors.
Meanwhile, a Osaic and Envestnet ink a new adaptive wealthtech partnership to better support the firm's 10,000-plus advisors, and RIA-focused VastAdvisor unveils native integrations with leading CRMs.
A former Alabama investment advisor and ex-Kestra rep has been permanently barred and penalized after clients he promised to protect got caught in a $2.6 million fraud.
As more active strategies get packaged into the ETF wrapper, advisors and investors have to look beyond expense ratios as the benchmark for value.
Wellington explores how multi strategy hedge funds may enhance diversification
As technical expertise becomes increasingly commoditized, advisors who can integrate strategy, relationships, and specialized expertise into a cohesive client experience will define the next era of wealth management
