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LPL Lowers Pricing on Small 401(k) Platform

18:40 04 December in In the News by rafferty

December 3, 2018 By Diana Britton, Wealthmanagement.com Effective in January, platform fees for advisors serving small retirement plans will be lowered from 20 to 10 basis points. In its latest move to improve pricing for advisors, LPL Financial is lowering the platform fees on its small retirement plan platform from 20 to 10 basis points, effective in January. The firm also added two new recordkeepers to the platform this year and will add more next year. In April, the firm reduced pricing on its Strategic Asset Management advisory platform. The firm also lowered the asset size required to join a hybrid advisory firm from $50 million to $25 million. The firm has also been improving its services to retirement plan advisors. In July, LPL revised the qualifications for its Retirement Plan Consulting Program, allowing more...

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What Boomers’ Retirement Means for the Advisor Industry

16:51 21 July in Articles Written by Jon Henschen by rafferty

July 18, 2017 By Jon Henschen, published on WealthManagement.com   Our industry will be unable to keep up with the demand for new advisors to fill the vacancies left by boomers retiring. The number of financial advisors (RIAs) peaked in 2008 at 325,000. By 2014, that number dropped to 285,000 (Cerulli Associates). The number of FINRA registered representatives is currently at 633,822 (April 2017), which is down from 643,433 in 2015. This reflects only the beginning of boomer retirement trends. Public accounting firm Moss Adams has forecast a shortfall of 200,000 advisors by 2022, with boomer retirement continuing through 2030. This will only compound the shortfall of advisors. The average age of advisers today is over 50, and 41 percent of advisors are 55 or older according to Cerulli. The industry has responded with...

Boomers to Cause Markets to Go Bust

19:58 19 July in Articles Written by Jon Henschen by rafferty

July 17, 2017 By Jon Henschen, published on WealthManagement.com   As boomers retire and exit the economic-contribution side of society, we’ll likely see a stock sell-off. Living in Los Angeles from 1979 to 1995, I grew accustomed to my TV viewing being interrupted by breaking news of car chases. A slightly different TV breakaway event occurred on July 2, 1982, when San Pedro resident Larry Walters, out of sheer boredom, purchased 42 8-foot weather balloons and several tanks of helium. Larry filled and tied the balloons to his lawn chair and took flight, reaching altitudes of 15,000 feet. “Lawn Chair Larry” drifted into the controlled airspace of LAX airport, prompting pilots to report the safety hazard to the control tower. This stunt captivated the Los Angeles audience for weeks, and the constant car-chase breakaways took a back seat...