Six Chicago planners have left Merrill Lynch to join LPL Financial and form an independent shop to lure other wirehouse breakaways.

The move reflects a desire to avoid the costs of coming settlements for Merrill's parent company, Bank of America -- and targets other breakaways with similar concerns, say the advisors.

Register or login for access to this item and much more

All Financial Planning content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access