Lisa Shidler

Everyone should wish Bill Morrissey the best, as LPL, the largest independent broker/dealer, seeks to manage a widely diverse group of independent brokers into a scalable advisory support format. The advisor seeks control over their value proposition, cost structure, margins and professional standing, not possible in a brokerage format. Will LPL and the brokerage industry in general be able to make the transition from brokerage to advisory services? The difference is in selling advice products in the b/ds best interest versus managing investment and administrative values on behalf of each client in the client’s best interest.

As a hands on manager who hits his numbers, will Morrissey be adroit in introducing disruptive innovation required for professional standing creating a unifying culture within LPL?

A daunting opportunity that could transform the entire industry?

SCW

What Derek Bruton's replacement may say about the departure that still has people shocked

William Morrissey:

Finetooth Consulting

Private Advisor Group

WWK Wealth Advisors

Ryan Shanks

Bill Dwyer

Mark Casady

John Hyland

Derek Bruton

Bill Morrissey

Roger Whitney

Adherents of the hybrid RIA model seem to understand the world in the same terms as Puritan dissenters, now known as Baptists, Quakers, Presbyterians, Unitarians and Congregationalists. The members of those offshoots avoided the fate of the Puritans who believed a little too ardently that grace could not be earned, only bestowed by God. The Puritans are now extinct. More inclusive splinter sects that accommodate striving sinners, on the other hand, have gone on to survive and prosper. Hybrid RIAs espouse a new world order of accountable advice that errs on the side of inclusion of brokers despite their propensity for sin inherent in their inevitable conflicts of interest. RIA purists see this more-the-merrier mindset as too much fiduciary disharmony to throw at clients and an unsettling bifurcation when building a successful, long-haul business. RIA hybrid enthusiasts say the success of this model – and it is the fastest growing in the advisory world -- speaks for itself and that such firms house the best of the transactional brokerage business and the fee business under one roof. Moreover, these evangelists see the hybrid model as a means of bridging the gap between a whole generation financial advisors by leading captive wirehouse brokers to a model that offers more objective, open- architecture advice. Whatever side a reader falls on this dynamic topic certainly deserves a reader section for itself and we are proud to present it.

Hybrid RIA

Bill Morrissey is known to grind out quantifiable results

What Derek Bruton's replacement may say about the departure that still has people shocked

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