RIABiz

News, Vision & Voice for the Advisory Community

RIABiz

Weighed down by nonstop fines, LPL finally buys ounce of prevention by putting ex-FINRA veterans on its payroll

Mark Casady also seats a former assistant attorney general on his board

Author Lisa Shidler October 6, 2015 at 9:19 PM
Admin:
no description available
Emily Gordy: I will be able to have an effective dialogue with FINRA.

Related Moves

Charles 'Chuck Schwab' called James Gorman to protest a two-broker poach, kicking off a hydra-headed legal battle, costing Morgan Stanley millions, so far

The Schwab founder and chairman invoked Charles Schwab Corp.'s zero-tolerance policy against Wall Street -- or RIA -- poaching of talent and AUM from Schwab branches.

March 9, 2023 at 1:23 AM

Why FINRA's late appearance into smoothie-throwing broker James Iannazzo's life might be rough

It's been about 11 months since Merrill Lynch fired him, and the CFP Board stripped him of the CFP mark; attracting the SRO's attention means more woes.

December 29, 2022 at 1:05 AM

Farther struts its startup magic and shows why a $375-million RIA can be worth $50 million -- by getting four advisors to bring books of business just to be part of the enterprise

The San Francisco firm claimed its software was at another level and now advisors are betting careers on it, though not of the UHNW variety imagined

November 2, 2022 at 3:27 AM

Goldman Sachs fought the squid, but the squid won as CEO David Solomon puts the United Capital-Ayco RIA back under the control of house asset managers

Solomon acknowledges he's largely reunifying wealth management and asset management to regain synergies after trying to give the in-house RIA agency.

November 1, 2022 at 4:03 AM

See more related moves

Mentioned in this article:

LPL Financial
RIA-Friendly Broker-Dealer, RIA Welcoming Breakaways, Advisory Firm
Top Executive: Dan Arnold

The Law Offices of Patrick J. Burns, Jr., P.C.
Specialized Breakaway Service
Top Executive: Patrick J. Burns, Jr., Esq.

Advanced Regulatory Compliance, LLC
Compliance Expert
Top Executive: Patrick J. Burns, Jr., J.D.




Stephen Winks

Stephen Winks

October 7, 2015 — 7:58 PM

Kudos to LPL which has the vision and courage to ask what constitutes good behavior. Independent broker/dealers have no unifying culture. Everyone is a free agent in control over their own destiny, yet regulatory reform requires the best interest of the investing public be served. This leads every broker of all descriptions to look for principled leadership around which they can associate their name and build a business they are proud of.. Every supporting b/d is expected to execute on behalf of their clients best interest taking advantage of transparency, technological innovation and regulatory reform. A new era is emerging, LPL may the first to execute, creating a massive competitive edge. The trust and confidence of the investing public in the industry has suffered. LPL can execute a unifying business model executed in scale, affording advisors (1) an extraordinary value proposition (that supersedes one dimensional product distribution) which addresses and manages a broad range of investment and administrative values in the client’s best interests, (2) streamlines cost and (3) accords professional standing in ways not possible in todays outdated conventional brokerage format. This is the ultimate competitive advantage in winning market share and a bright new future for the industry..

Let’s wish LPL much success.

SCW
Stephen Winks

Financial Fuckery

Financial Fuckery

October 7, 2016 — 2:26 PM
It's not that the management of LPL are incompetent clowns, it's that the are highly regarded incompetent clowns. The buffoonery these clowns engaged in is mind blowing and sets the tone for what we can expect from financial market thievery in the future.

RIABiz Directory

The Industry Sourcebook for RIAs

   |    LISTING


RIABiz Directory sponsored by:

Directory Sponsor Logo