The odd case of MetLife's claim that it's being bullied by LPL
The $60 billion market-cap insurer alleges LPL was underhanded in luring away 60 employees -- but thousands have already left its broker-dealer without LPL's help
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Another RIA whisperer, Julian Lopez, has left Schwab Advisor Services after 24 years to join LPL, which he sees as more advisor-focused and 'entrepreneurial'
The Houston executive, like Kelly Smith in Chicago, was considered a key service talent for RIAs though Lopez says his circumstances differ.
February 23, 2023 at 8:14 AM
Executive shake-up and staff hiring binge change Dynasty Financial Partners' talent mix, with Todd Thomson, Scott Welch, Ed Friedman and 12 women as headliners
The St. Petersburg-based producer of 'synthetic RIA scale' will continue to aggressively hire and adjust its talent ranks as it readies for next growth push.
September 24, 2019 at 2:02 AM
LPL Financial tries to solve two 'digital' problems with one new hire; the broker-dealer admits high 'friction' with clients for onboarding and matching them to the right annuity
Ashish Braganza puts LPL in to the data game but critics wonder whether the belated hire comes with too small a budget and team
July 25, 2019 at 6:18 PM
With his CEO hell-bent for election, Bronfman Rothschild president Michael LaMena reunites Fortigent's terrible two with a key poach
Neal Simon is running for U.S. Senate as an independent, an unusual risk; he also took precautions to make sure his $6.1B RIA roll-up finds its feet regardless of the mood of the Maryland electorate
November 5, 2018 at 8:06 PM
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Mr RIA
This reminds me of the Berlin Wall. Met Life is literally imprisoning it’s salespeople instead of trying to please them. Pathetic.
Stephen Winks
You can’t beat the free market, as the client’s best interests will invariably prevail, regardless of who one works for. It is a test of the industry’s metal as to how astutely it adapts. LPL has great promise but there is no place to hide. Every broker/dealer which has opposed its brokers acting in the client’s best interest, which is just about every one of them, now finds it in their self interest to actually acknowledge and support fiduciary duty. How effective a firm’s support of professional standing of its broker determines competitive market position. The more a firm fought fiduciary duty, the more difficult to advance fiduciary duty and the more its market share is at play . Competitive market standing will be determined by (1) cost, (2) the specific range of expert authenticated services (as required by statute), and the technical competency of advisor support. This will reorder the industry around the client’s best interests. Too many firms now face the prospect of needing strong internal advocates for fiduciary duty which has been a cultural anathema for seven decades. The industry is at a loss for years of neglect.
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Stephen Winks
