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LPL Woos FAs at Cambridge Investment Research

16:20 12 April in In the News by rafferty

April 12, 2018 By Garrett Keyes, Financial Advisor IQ LPL Financial has made at least one offer to an advisor at Cambridge Investment Research in a bid to poach advisors previously affiliated with the National Planning Holdings, the FA confirms. In August LPL bought NPH’s assets from Jackson National Life for $325 million and has since been enticing advisors within the network to onboard with LPL so that it could hit an onboarding bonus. Anita Ritter, an FA at Cambridge, confirms she was the target of an outreach with the same terms as previous offers to advisors at Cetera Financial, Securities America and Kestra Financial – where many former NPH advisors went after the sale.The offer made to Ritter – and other advisors – is 50 basis points on assets for joining LPL’s RIA...

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...

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Ron Carson openly poaches LPL advisors, seducing them with new tech

21:47 08 February in In the News by rafferty

February 8, 2018 By Ann Marsh, Tobias Salinger, Financial Planning In a risky recruiting strategy that could invite lawsuits, advisor Ron Carson is openly trying to lure advisors away from LPL Financial, the largest U.S. independent broker-dealer. His sales pitch includes a nationwide speaking tour, in which he tempts advisors with a new, streamlined technology platform. For more than 20 years, Carson had been LPL's top producer, but he left in early 2017 to join another large IBD, Cetera Financial Group. Now, he has crafted a personal appeal to entice other LPL planners to follow suit. He started delivering the message at the first of 13 day-long advisor workshops planned to take place around the country. "I can't tell you how great it is to talk to you, fellow LPL-ers. I've missed you," Carson says in...