IBDs

LPL Analysts: DOL Could Be Kink in Possible Deal

Wed, 12 Oct 2016 17:24:00 +0000

Equity analysts following LPL say compliance headaches related to the DOL rule could turn off potential buyers. But if the firm were to sell itself, the buyer would most likely be a wirehouse or large national brokerage.

LPL Financial Exploring a Sale - Sources

Tue, 11 Oct 2016 19:56:00 +0000

Greg Roumeliotis | Reuters

LPL Financial Holdings, the largest independent broker-dealer and registered investment adviser in the U.S., is exploring a potential sale, according to people familiar with the matter.

After LPL Leaves FSI, Three of Its OSJs Become Members

Tue, 04 Oct 2016 13:00:00 +0000

In a first for the organization, FSI allows OSJs to join. Three of the first OSJs to become members are affiliated with LPL Financial, which split from the group earlier this summer.

Securities America Scoops Up Another Small IBD

Mon, 26 Sep 2016 17:03:00 +0000

New York–based Wall Street Financial Group, which will join Securities America as a super office of supervisory jurisdiction, adds 67 advisors, $2.1 billion in client assets and approximately $11 million in revenue.

Cetera Selling The Legend Group to Lincoln Investment

Wed, 14 Sep 2016 17:49:00 +0000

Cetera says The Legend Group's focus on 403(b) plans were not in line with its future growth plans.

Cetera Confirms: Robert Moore In, Larry Roth Out as CEO

Thu, 01 Sep 2016 17:53:00 +0000

Amid media speculation about changes to the brokerage’s leadership structure, Cetera has confirmed that chairman Robert Moore will take over as CEO, replacing Larry Roth.

Silicon Valley IBD Sells to Securities America

Fri, 19 Aug 2016 18:28:00 +0000

Foothill Securities says increased compliance burdens related to the Department of Labor’s fiduciary rule cemented its decision to search for a buyer.

Cetera Financial Institution’s New President to Implement Robo

Mon, 08 Aug 2016 13:00:00 +0000

Cetera’s broker/dealer focused on banks and credit unions has promoted LeAnn Rummel to president and tasked her with adding a digital advice offering to the firm’s wealth management platform.

LPL Profit Slid 5 Percent in the Second Quarter

Fri, 29 Jul 2016 17:47:00 +0000

LPL Financial reported net income of 53 cents a share, down 5 percent from a year ago, on net revenues of about $1 billion, a 7 percent decline year-over-year. But the firm beat analysts expectations on both figures.

Fee-based, Discount Brokerage and Online Channels to Grow

Thu, 28 Jul 2016 19:48:00 +0000

The fee-based advisor, discount brokerage and online advice channels will grow their market share over the next few years, says a research report by Tiburon Strategic Advisors.