LPL video about private equity looks like a swipe at Cetera
September 21, 2018 By Bruce Kelly, Investment News Recruiting video warns about potential consequences for advisers when a PE firm buys a broker-dealer LPL Financial appears to be dissing its rivals, including Cetera Financial Group, in a video that is making the rounds of social media sites such as LinkedIn with the title, "How Financial Advisers Can Be Impacted by Private Equity Ownership." LPL, which formerly was owned by private-equity firms, is now oddly warning of the dire consequences for financial advisers if their broker-dealer is bought by such investors. The timing of LPL's video, which is almost four minutes long and makes no direct mention of Cetera or other firms, is curious. While private-equity manager have bought a variety of broker-dealer over the years, Cetera Financial Group, a network of six independent broker-dealers with about...
