LPL Financial

One departing practice managed $100 million in assets.

CEO Dan Arnold presented details of the firm's mounting ambition after announcing the acquisition of a brokerage and RIA with $3 billion in client assets.

With brokerage firms lining up in support of the SEC proposal, fiduciary planners aim to keep their differences from the BD channel intact.

The regulator and one of its largest members, LPL Financial, engaged in a back-and-forth on the controversial initiative.

In a bid to further enhance its capabilities for advisors, the firm is also slashing ETF transaction fees on select funds later this year.

The No. 1 IBD also nominated a new board member and tapped key executives for advisor support and government relations.

Independent Financial Partners aspires to be a “very, very small agent for change.”