sidebar

Connect: 888-821-8107

Connect: 319-210-7700

archive

broker dealer Tag

LPL Targets Cetera, Securities America and Kestra Advisors with Aggressive Recruiting Package

19:27 10 April in In the News by rafferty

April 10, 2018 By Diana Britton, WealthManagement.com To boost recruiting, LPL is offering some advisors from rival firms up to 50 basis points on all assets. LPL Financial is sweetening the recruitment deal for advisors who join from rival independent broker/dealers Cetera Financial, Securities America and Kestra Financial, offering advisors 50 basis points on assets if they join the firm’s corporate RIA and 40 basis points on assets to join hybrid offices of supervisory jurisdiction (OSJs). The incentives are in the form of forgivable notes. The enhanced recruitment package, which takes the form of a forgivable note, was announced about a week ago, according to sources familiar with the promotion. Advisors from these firms who join LPL’s corporate RIA will also get a 93 percent payout for five years as further enticement. The firm is not...

ThinkAdvisor logo

Van Law to Step Down as Head of Raymond James’ RIA Group

20:25 22 March in In the News by rafferty

March 22, 2018 By Janet Levaux, ThinkAdvisor The departure is ‘surprising news,’ recruiter Jon Henschen says.   Raymond James says that Bill Van Law, president of the Investment Advisors Division, will be leaving the firm on April 2 to “pursue other personal and professional interests.” Van Law, who has been leading Raymond James’ efforts to attract registered investment advisors, is a 15-year veteran with the firm, which is now searching for his replacement. “Bill has had significant impact on our Private Client Group businesses, including the growth and success of the Investment Advisors Division,” said Chairman & and CEO Paul Reilly. “We are grateful for his many contributions and wish him well with his future endeavors.” Van Law joined Raymond James in 2003 after spending 18 years at Merrill Lynch (1984-2002), where he served in various leadership...

Cetera sale talk another distraction for advisers

17:00 27 February in In the News by rafferty

February 26, 2018 By Bruce Kelly, Investment News Company emerged from bankruptcy less than two years ago; plans to brief advisers Tuesday afternoon A potential sale of Cetera Financial Group could be boon for its private equity owners, but turn out to be another distraction for its 8,000 advisers, who saw the company emerge from bankruptcy less than two years ago. On Friday, Bloomberg News reported that Cetera was exploring a sale that could fetch its private equity owners as much as $1.5 billion. On Monday, the company said it launched an internal review with the objective of optimizing its capital structure, lowering costs and maximizing continued investments. Cetera also said it hired Goldman Sachs & Co. for the review. "It is a distraction," said one Cetera adviser, who asked not to be named. "If management wants...