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LPL Expects to Keep 70 Percent of NPH Advisors

16:27 13 November in In the News

November 8, 2017

By Diana Britton,

CEO Dan Arnold told investors he expects 70 percent of advisor production to move over in the first wave—but what is the bar for success?

LPL Financial is on track to retain 70 percent of advisor production from National Planning Holdings after transitioning the first wave of advisors from the acquired independent broker/dealer, the company said during a conference call Wednesday morning, even though CEO Dan Arnold told investors that the earnings the company would realize, measured by EBITDA, would equal 80 percent.

“Anytime you have a transaction, you’re putting potential assets in motion, it’s going to be a competitive environment,” Arnold said. “We also knew that this was a good quality property but that all advisors wouldn’t necessarily match up with us strategically.

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After LPL deal, $1.3B National Planning firm bolts for Commonwealth

16:53 19 October in In the News

October 19, 2017

By Tobias Salinger, FinancialPlanning

A father-son firm managing $1.3 billion in client assets opted for Commonwealth Financial Network rather than remaining with National Planning through the transition of its advisors to LPL Financial.

Stuart and Michael Paris of Paris International “would have never left” National Planning if the firm’s assets had not changed hands in LPL’s big recent acquisition, Michael Paris said this week. The Great Neck, New York-based firm chose the fourth largest independent broker-dealer over the largest one.

LPL’s Aug. 15 purchase boosted its own prospects while helping recruiting efforts for its competitors. The boutique-like model of Commonwealth stands as an alternative to increasingly large firms like LPL in the bifurcating IBD space, a study found earlier this month.

LPL Offers Retention Deals to NPH Advisors

21:21 13 September in In the News

September 13, 2017

By Diana Britton, Michael Thrasher,

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.