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LPL Offers Retention Deals to NPH Advisors

21:21 13 September in In the News by rafferty

September 13, 2017

By Diana Britton, Michael Thrasher, WealthManagement.com

For some loosely affiliated groups, the deals are based on individual advisor, not group, production, an unusual move.

LPL Financial has started to offer retention packages to reps at National Planning Holdings, the network of 3,200 advisors the firm purchased from Prudential last month. The firm shared some details about the transition efforts, including the timeline for the tape-to-tape transfer as well as transition assistance.

Something unusual about the offers is that for some loosely affiliated groups, transition assistance and payouts are based on individual advisors’ production, not the group’s. So for many advisors who were used to being dealt with as a team by NPH, their payout may be going down.

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financial advisors

Recruiting Speeds Up

20:05 31 August in In the News by rafferty

By Dan Jamieson

August 2017 issue of Financial Advisor Magazine

Recruiting activity among independent broker-dealers is regaining momentum now that the DOL rule is back on track.

Many advisors have been evaluating their broker-dealer relationships in light of the new requirements the DOL will impose. Big firms like LPL Financial and Raymond James are changing their payout formulas in response to the rule and others are likely to follow.

But independent broker-dealer execs say that some recruits in the pipeline held back on making decisions early in the year after President Trump ordered a review of the rule. That gave opponents of the DOL plan—including many B-Ds and independent reps—some hope that the rule would be indefinitely postponed.

But the U.S.

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For small B-Ds, becoming part of a branch office of a larger firm is a viable exit strategy

15:45 26 August in In the News by rafferty

August 25, 2017

By Bruce Kelly, Investment News

Such deals allow them to get out from under the cost of running a broker-dealer, but preserves their brand and culture

LPL Financial’s acquisition this month of the National Planning Holdings Inc. network of four broker-dealers with 3,200 reps and advisers certainly has the independent broker-dealer industry abuzz, but transactions involving smaller broker-dealers are also of keen interest, as well as far more common.

​ At the start of the year, brokerage executives pointed to the potential for large firms buying small firms, which are struggling with compliance and technology costs, and absorbing them as branches called offices of supervisory jurisdiction, or OSJs.

Two recent deals or mergers stand out.

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