Further, in September 2024, LPLA agreed to acquire The Investment Center, Inc., a broker-dealer and registered investment advisor. In 2023, the company bought a minority stake in IAA (a hybrid registered investment advisory firm) and acquired FRGIS and the Private Client Group business of Bo...
Management noted that higher funding costs are weighing on its performance. Hence, as it deals with the low-yielding assets bought during the pandemic, the company plans to shrink itself to sustain profits and rely more on off-balance sheet arrangements to house deposits. This plan to shift tow...
LPL Financial, the largest provider of brokerage services sold through independent contractors, has unveiled a new “channel” for brokers who want to join as employees with more support from the company than their fully independent colleagues. In return for firm-provided technology, office space, b...