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In the News

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Robert Moore Returns to LPL as CEO of Private Advisor Group

16:41 19 November in In the News by rafferty

November 18, 2020 By Asia Martin, WealthManagement.com The move puts him on the other side of the table at the independent broker/dealer LPL Financial, where he served as president until 2015. Private Advisor Group, the registered investment advisor and office of supervisory jurisdiction affiliated with LPL, landed the seasoned wealth management executive Robert “RJ” Moore as its new top executive, according to an announcement the New Jersey–based RIA made Wednesday. Moore is the former president of LPL Financial and was, until 2019, chief executive officer of Cetera. John Hyland and Patrick Sullivan, the co-founders and managing directors of Private Advisor Group, said they and the rest of the leadership team will report to Moore, a first for a company that has struggled to formalize its executive leadership hierarchy throughout since the duo founded the firm 23 years ago. “John [Hyland] and I are...

Financial Advisor IQ a Financial Times Service

LPL OSJ Aims to Lure Wirehouse Breakaways by Covering Moving Costs

16:37 18 November in In the News by rafferty

November 16, 2020 By Mrinalini Krishna, Financial Advisor IQ Independent Advisor Alliance is offering to pay breakaway advisors’ relocation costs to try to entice them away from wirehouses, says Michael Gordon, chief business development officer for IAA. The firm, which is an office of supervisory jurisdiction on LPL Financial’s hybrid RIA platform, is offering to cover the expenses and coordinate with moving companies as a way of differentiating itself in a very competitive market for wirehouse breakaways, says Gordon. While the amount of additional money offered to recruits as part of the package isn’t necessarily enormous, the arrangement is meant to demonstrate a spirit of partnership, he says. IAA’s strategy is premised on the notion that advisors are at present especially keen to leave big cities for the suburbs in response to the pandemic,...

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Securities America loses top executive to Carson Group

16:41 23 October in In the News by rafferty

October 22, 2020 By Bruce Kelly, Investment News The departure of Kevin Miller, formerly executive vice president, adds to a growing list of high-level employees to leave the firm in recent months As the Advisor Group network consolidates some of its broker-dealers, Securities America Inc., one of the largest independent-contractor broker-dealers in the industry, is seeing a handful of senior and second-tier employees jump ship. The most senior executive to leave Securities America is Kevin Miller, formerly executive vice president and general counsel. After more than 20 years at Securities America, he is now working at the Carson Group, according to Ron Carson, CEO and founder of the $13 billion network of advisory firms. The exact timing of his departure was not clear. Advisor Group said in May it was shutting down three of the...