LPL Financial

LPL Financial

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Business head: Matthew Enyedi

No. clients: 342

AUC: $105,000

Min. assets: None

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In the News

Despite uncertainty, Department of Labor fiduciary rule upends 401(k) biz

March 19, 2017 - Even though its fate is unclear, the Department of Labor's fiduciary rule is upending the retirement plan adviser market, which spans the adviser spectrum from "dabblers" to defined contribution "specialists." Observers say such changes began taking root...

Social media's place in marketing

March 19, 2017 - I‚Äč didn't start my career in marketing. In fact, my first desire to understand marketing was because I had a sizable sales goal. My position required me to reach a national audience with little to no brand recognition ‚ÄĒ or marketing budget. So in...

LPL spent big on recruiting in 2016

March 17, 2017 - After reporting that 2016 was its best recruiting year ever, adding 323 net financial advisers, LPL Financial is now revealing that it paid handsomely for those recruits. As of the end of last year, LPL had a forgivable loan balance of $136.7 million...

Merrill Lynch outlines plans for its 401(k) fiduciary platform

March 15, 2017 - Merrill Lynch Wealth Management outlined plans Wednesday to transition its defined-contribution-plan business over to a fiduciary model, coming several months after the firm announced similar plans for its retail retirement business and as the implementation...

Jim Putnam returns to LPL as chairman of the board

March 8, 2017 - James "Jim" Putnam, a key architect in the 1980s and 1990s to building LPL Financial and overseeing its tremendous growth, has returned to the company as full-time chairman of LPL Financial Holdings Inc. Considered by many to be LPL founder Todd Robinson's...

LPL gets mixed reviews for recruiting more to corporate RIA platform

March 3, 2017 - LPL Financial's decision to overhaul how it pays for recruits to join the firm is receiving mixed reviews from LPL branch managers, who rely on the independent broker-dealer to support and underwrite their efforts to bring in new advisers. In the past,...

Markets looking for policy details in Trump's speech

February 27, 2017 - Donald Trump's address to Congress on Tuesday is taking on the importance of a State of the Union speech when it comes to U.S. financial markets. For investors relying on more than a year of campaign promises of a pro-growth agenda to push U.S. stocks...

Adviser loses IRS fight, putting tax status for solo practitioners in question

February 23, 2017 - In October, I wrote a column about a financial adviser who was squaring off with the IRS in a dispute over using a flow-through tax structure known as an "S corporation" to pay himself. Financial advisers who are solo practitioners have been operating...

Finra slaps LPL with $900,000 fine for record-keeping snafu

February 15, 2017 - The Financial Industry Regulatory Authority Inc. fined LPL Financial $900,000 in December for failing to send, or create records that it had sent to customers more than 1.6 million required account notices during the previous 36-month period. Although...

Trump call for DOL fiduciary rule review could open door to uniform standard

February 9, 2017 - President Donald J. Trump's memo last week ordering the Labor Department to review the fiduciary rule has encouraged some in the brokerage business that an all-encompassing best-interest rule covering not just retirement assets could be crafted by the...

    Notes
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  • N/D = Not disclosed
  • — = Information not available or not disclosed

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