This Big Firm Has a Major Recruiting Advantage

(New York)

While it does not get written about nearly as much as the more famous wirehouses, LPL is a force to be reckoned with in wealth management. The firm has a particular advantage, little discussed, that gives it a major competitive edge. While it has scale, good incentives, and a well regarded culture, its real trump card is the easy transition it offers when recruiting new brokers. For instance, when repapering accounts (transferring directly held investments like mutual funds and annuities), LPL's process is automated instead of the mountains of paperwork that would be needed at other firms.

FINSUM : Transitional factors, like the administrative load, can play a major factor in all manner of deals, so it is no surprise that it is giving LPL an advantage.

  • LPL
  • recruiting
  • transition
  • wirehouse

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