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The big IBD touts its big size, big growth and big recruiting opportunity in SEC filing
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LPL Financial
RIA-Friendly Broker-Dealer, RIA Welcoming Breakaways, Advisory Firm
Top Executive: Dan Arnold
Raymond James Financial Inc.
Asset Custodian
Top Executive: Bill Van Law
Jeff Spears
LPL has captured the first wave of breakaway adisors who have left Wall Street firms because their payouts were cut and/or they were not offered retention bonusses in 2008/09.
The second wave of breakaway advisors will be the larger producers who received a retention bonus and have not had their payouts cut “yet”. It will be interesting to see how LPL trys to attract this group.
not my name
To anwer youor question, Jeff—-Its really simple:
Pay off the retention bonuses. Period.
If your at “insert name here”, and you were bought out by a bank, as I was—your payout has already been cut. My production is higher every month T-12 than the previous, yet check is smaller than the previous.
Get me out off that bonus commitment, and I’m gone. So are many, many more.
And their attitude is, “ if you dont like it here—maybe you should look somewhere else” I heard a regional manager tell a roomful of brokers that very statement last fall.
Wade Dokken
LPL Financial is the story of the American Retirement Dream. Todd Robinson, Mark Casady, Jim Putnam and countless others built the modern financial planning firm, for investors and the top advisors.
Wade Dokken
President WealthVest Marketing
Read my blog on LPL
http://www.wealthvest.com/blog/wade-dokken/lpl-ipo-profile-featured-in-forbes-wade-dokken-commentary/
wade dokken
LPL built an incredible brand over 20 some years. Todd Robinson’s vision, combined with some exceptional management talent in Jim Putnam, Mark Lopez, Bill Dwyer, Joh Easton, Ester Stearns, Stephanie Brown and of course, Mark Casady, created this great firm. Todd gave a tremendous amount of the company away in style of generosity and love of his employees.
LPL advertises in their roadshow that 85-90% of all fees go to their advisors. Some advisors receive up to a 96% payout.
Read more in my blog:
http://www.wealthvest.com/blog/wade-dokken/lpl-ipo-roadshow-presentations-prospectus-management-presentation-expected-pricing-11172010/
Wade Dokken
President, WealthVest
http://www.wealthvest.com
