December 15, 2017
By Jon Henschen as published on ThinkAdvisorThe need to follow the crowd and the desire for exclusivity are both powerful motivators you can use to your advantage
Since September 2017, we’ve experienced a substantial outflow of advisors from the Jackson National broker-dealers that were sold to LPL Financial via the National Planning Holdings acquisition. Industry publications announced regular movement to broker dealers, touting the group’s assets and discussing why they moved to whatever firm they had ultimately chosen.
The herd mentality has been in full swing, as BDs and the press drew attention to which firms were the most successful in attracting advisors. In a perceptive move, even LPL joined in by publicizing the names of large groups that decided to go along with the sale and proceed with their move to LPL,