LPL Financial

Questions about job losses and real estate are adding more complexity to the usual post-deal issues involving advisor retention and company consolidation.

The fintech firm says use of the loans grew 10% last year among its client base.

The agreement will expand the companies’ recruiting efforts in the bank and wirehouse channels.

As the No. 1 IBD rolls out M&A services to advisors this quarter and reels in record recruits, Dan Arnold says the firm is experimenting.

A team that has grown through acquisitions dropped the No. 1 IBD after the institution purchased another one for more than $600 million.

The firm’s use of third-party compliance vendors came under scrutiny after an ex-rep pleaded guilty to bilking clients out of $5 million.

LPL Financial and indie rivals like Raymond James, Wells Fargo FiNet and Kestra Financial completed at least 17 recruiting grabs of $800 million or more this year.

Waddell & Reed had been working in recent years to transform its “proprietary broker-dealer into a fully competitive independent wealth manager.”

Homogeneous industries and male executives are the primary target clients of the new consultancy, Kathleen Zemaitis says.

As part of a two-step deal involving Australian investment bank Macquarie Group, LPL will pick up 900 advisors and $63 billion in assets.