LPL Financial

During Andy Kalbaugh’s tenure with the No. 1 IBD, its headcount grew by more than 50% to nearly 17,000 reps.

The firm will also pay a penalty and offer to buy back variable annuities the former broker sold to 21 other investors.

With higher compensation offers and a track record of independence, the No. 1 IBD is “challenging the status quo,” its head recruiter says.

The No. 1 IBD revealed new details of its W-2 affiliation after it followed rivals into the employee channel with an acquisition it made last year.

The independent broker-dealers big enough to serve the most financial advisors enjoy advantages but face distinct challenges.

It will be the largest bank channel team at the IBD, with its former clearing house Pershing taking a hit.

The latest roundup of 32 IBD affiliation moves, M&A deals and expert studies reveals the mixed impact of the coronavirus.

The rep defrauded clients with promises of a “lucrative investment” tied to the popstar that would also “help needy people,” according to regulators.

Grappling with margin pressure, consolidation and fragmentation, the sector questions its identity.

The basic yet revealing query shows why it’s not just about FINRA registration as a BD and 1099 contractor status for advisors.

For the first time, the ranks of the top 25 firms according to their annual business include single entries for IBD networks.

LPL has reeled in about half of the reps changing their BDs so far this year, but the full RIA channel is also reaping big gains. Plus, other news in the indie space.

Independent advisors may enjoy freedom of choice when it comes to all things digital, but giant institutions have a leg up with integration.

From fruit baskets to operations, financial advisors can tap into a range of ideas in a time of remote work.

More than 300 reps have switched BDs so far this year, with LPL and Cambridge Investment Research completing the two largest grabs.

LPL advisor Kashif Ahmed tweeted his condition from the emergency room then focused on recovering, knowing his firm could run without him.

A former craft brewer and an ex-rugby star went indie with Gladstone Financial Resources Group.

The onetime CFP pleaded guilty to violating his parole after previously avoiding prison time through a plea deal in 2018.

Once derided as fringe and unsustainable, advisors are finally accepting the business model.

The lost assets represent a big hit to the firm’s operations in the small Missouri town where the advisor was based, ex-employer claims.