LPL fires $10 billion RIA in Kansas City with both parties happy to keep the rift's cause out of view

So let me understand...an LPL adviser admits in the last paragraph of an article he knows nothing about the firm or any of its employees. However, he is quoted as having the knowledge the firm is not profitable and allowed to speculate the firm may have been terminated as a result of compliance concerns. That's considered a credible source for a news article???

The comments were made in two contexts. The first was speculative about the business. The second was more personal. That said, I agree that those quotes are complicating and we undermine the credibility of our source. I removed both quotes.

I hope my comments were not seen as an indictment of the reporter or your publication. I understand your blog relies to some extent on industry rumors and, in some circumstances, they may prove to a valid starting point for getting to the truth. My point was that a person who is unfamiliar with the firm or the situation should be more careful about alleging facts regarding either. If there was a compliance concern with the firm, it would seem LPL would have had a duty to note it on the principals' U5s. Similarly, it seems unlikely a firm could grow to $4 billion in AUM without being profitable. There obviously appears to be more to this story, and Mr. Morris indicated he would be able to reveal more in the near future. Hopefully, we will learn the true facts then.