LPL Financial

The No. 1 IBD is reaping the benefits of learning the lesson that it “can never move away from the advisor,” according to its head of business development.

With competition heating up, the IBD is offering advisors better technology and higher pay.

Under the deal, private equity-backed Wealth Enhancement Group would make its 10th acquisition in the past five years.

CEO Dan Arnold pledged new tech-enhanced support for advisors as part of a larger cultural transformation.

The No. 1 IBD requested that other variable writers “contractually reaffirm their commitments to protecting trails,” an executive says.

The leak included information on about 12,000 advisors who are clients at LPL Financial.

Private Advisor Group unveiled a new team with $175 million in client assets, while Integrated Financial Partners says it grew by $900 million in 2018.

The leak affected advisors who do business with the asset manager’s iShares ETF unit.

An analyst expects “solid” recruiting figures for the fourth quarter after the No. 1 IBD added the five-advisor group plus an ex-Raymond James bank program.

The retirement plan-focused group’s new OSJ had left the No. 1 IBD in 2017 and will grow to 160 advisors under the move.