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LPL Expects to Keep 70 Percent of NPH Advisors

16:27 13 November in In the News by rafferty

November 8, 2017 By Diana Britton, WealthManagement.com CEO Dan Arnold told investors he expects 70 percent of advisor production to move over in the first wave—but what is the bar for success? LPL Financial is on track to retain 70 percent of advisor production from National Planning Holdings after transitioning the first wave of advisors from the acquired independent broker/dealer, the company said during a conference call Wednesday morning, even though CEO Dan Arnold told investors that the earnings the company would realize, measured by EBITDA, would equal 80 percent. “Anytime you have a transaction, you’re putting potential assets in motion, it’s going to be a competitive environment,” Arnold said. “We also knew that this was a good quality property but that all advisors wouldn’t necessarily match up with us strategically. That said, we thought we...

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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. Typically when broker/dealers have acquired other firms, the new owners have kept everything the...

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Is LPL’s Purchase of NPH Savvy or Reckless?

21:05 16 August in In the News by rafferty

August 16, 2017 By Janet Levaux, ThinkAdvisor Analysts and executives discuss the pros and cons of the IBD's $325 million purchase LPL Financial announced the much-anticipated purchase of National Planning Holdings, an affiliate of Jackson National Life, and its four broker-dealers late Tuesday. Early Wednesday, CEO and President Dan Arnold and CFO Matt Audette spoke with equity analysts about the news and highlighted details of what could be a profitable but also highly complex merger. Here are some of the issues raised during the discussion, with input from some analysts on the call and insights from outside industry sources, pointing to potential benefits and pitfalls of the transaction. The Price Tag At $325 million initially and with a possible contingency payment of up to $123 million, Arnold says the independent broker-dealer is paying “a price that is...