00:00 01 September
in
In the News by
rafferty
by Bruce Kelly and featured in Investment News
September, 2006:
Pacific Select Group, LLC, in an internal email to its network of registered representatives and advisors last Monday, dismissed rumors of a merger with Linsco/Private Ledger Corp. which according to numerous industry insiders, had been courting broker/dealers aggressively.
But any deal involving the two may yet happen, one industry recruiter said.
‘On a mission’
Pacific Select’s five-sentence denial in the internal e-mail of an immediate deal with Linsco of Boston and San Diego was a clear indication of the former’s desirability and the latter’s voraciousness, observers say. In the e-mail, Pacific Select conceded that it had been approached about a sale.
“LPL is on a mission. It has an insatiable appetite for expansion,” said Larry Papike, president of Cross-Search, a Jamul, Calif., recruiting and placement firm...