In its earning call last month, LPL Investment Holdings shared strong performance numbers for fourth-quarter and full-year 2011. But many analysts on the call wanted to talk about something else - namely, LPL's acquisition of wealth management services and consulting firm Fortigent announced in January, after the reporting period.
"We absolutely have seen more calls from prospects to join us," Mark Casady, LPL Financial's chairman and CEO, said during the session. "We are already attracting very sizable RIA practices, whose characteristics are that of a hybrid. It is a very good area for us to enter and a good business for us to support."
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