Executives at the Wall Street giant expressed optimism that clients will turn to it more for advice amid economic uncertainty.

Modern Wealth also takes on $1B in AUM through two acquisitions, and LPL hires a chief data, AI officer from JPMorgan.

Goldman Sachs, Bank of America, Wells Fargo and Truist are facing pressure from ISS, Glass Lewis and SOC Investment Group over their 2024 pay packages.

The deal, expected to close in the second half of the year, will bring in $16 billion in client assets and 110 advisors.

Meanwhile, former Charles Schwab CEO Walt Bettinger saw a 10% compensation increase for his final year on the job.

The JPMorgan Chase CEO voiced concerns about President Trump's tariffs, warning of potential economic instability, inflation and damage to international alliances.

Also this week, Raymond James recruits from Morgan Stanley, and Mercer Advisors and EP Wealth Advisors make big M&A deals.

The LPL CEO says Commonwealth advisors have almost nothing to lose and much to gain by joining a firm whose headcount is fast approaching 29,000. (Plus, experts say he'll be writing big checks.)

Industry experts think LPL will have to work hard to retain Commonwealth advisors who were sold on the idea that they'd be working for a "boutique" firm.

The acquisition will bring LPL as much as $285 billion in AUM and 2,900 advisors when it closes in the second half of the year.