September 19, 2017
By Tobias Salinger, Financial Planning
More than 1,600 advisors with National Planning Holdings broker-dealers face a wrenching decision: Join LPL Financial or take their practices elsewhere, with little time to make the choice.
LPL plans to take over all National Planning and Investment Centers of America accounts Dec. 2, less than 120 days after LPL acquired NPH. Even before then, advisors of the two firms must make their intentions clear or risk consequences, according to a mass NPH email obtained by Financial Planning.
Brokers who want to join a new BD must do so by Nov. 3, at which point the memo says NPH will terminate their registration. If they don’t move out their accounts by Oct.