Independent BDs

The IBD spent $77 million on technology upgrades in 2016.

The nation's biggest IBD believes macro trends are ideal to boost recruiting, says LPL managing director Bill Morrissey.

The firm is trying to show advisors how they can use LPL’s resources to “get more at-bats” with prospective clients, an executive said.

Dan Arnold says behavioral management, automation and portfolio and planning services need to be combined to win future clients.

CEO Dan Arnold said advisers’ uncertainty about the fiduciary rule is waning.

"This is a challenging time for the firm with the DoL rule," CEO Paul Reilly said.

The rule has cost the firm tens of millions of dollars in compliance and lost revenue.

"Banks traditionally pay higher valuations, but [RIAs] should go into deals with eyes wide open," Dave DeVoe says.

The new executive will lead a team counseling advisers on how to comply with the DOL rule.

The Labor Department has indicated that further revisions to the regulation could be forthcoming.