September 13, 2017
By Diana Britton, Michael Thrasher, WealthManagement.com
For some loosely affiliated groups, the deals are based on individual advisor, not group, production, an unusual move.
LPL Financial has started to offer retention packages to reps at National Planning Holdings, the network of 3,200 advisors the firm purchased from Prudential last month. The firm shared some details about the transition efforts, including the timeline for the tape-to-tape transfer as well as transition assistance.
Something unusual about the offers is that for some loosely affiliated groups, transition assistance and payouts are based on individual advisors’ production, not the group’s. So for many advisors who were used to being dealt with as a team by NPH, their payout may be going down.