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.
Meanwhile, DPL Financial Partners adds two annuity executives and Prime Capital Financial hires a Mid-Atlantic retirement plan consultant
Andrew Komarow pleaded guilty Thursday in federal court in Hartford to defrauding three financial services companies of close to $3.3 million.
Elsewhere, Cetera picks up a $210 million Connecticut team from MML, while Wells Fargo FiNet adds a San Diego family practice from LPL
Celebrity endorsements, $500M in claimed assets, and a state regulator stepping in.
“We needed to become a more agile and efficient organization,” said American Express CEO Stephen Squeri.
Knighthead Life entered the market with a competitive MYGA. A strong launch earned advisor confidence and paved the way for FIAs.
As AI makes financial information more accessible than ever, Lana Hock explains why human judgment, trust, and empathy remain the qualities clients value most in a financial advisor
