The story behind how Raymond James won two big teams from LPL and Wells Fargo in the past couple of weeks
When the mid-sized Florida broker-custodian takes on bigger giants, it plays the little-guy card
John
It does not seem to me that advisors are going independent when they leave one regional and join another. They are still exposed to conflicts of interest with regard to product. If these advisors are heavily fee based to move to a truly independent custodian (Schwab, Fidelity, TD or Pershing) and affiliate with a friendly BD reduces conflict and reduces cost dramatically. These reductions can be passed onto the client or kept by the advisor which at the end of the day is the value of “true” independence.
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LPL Financial
RIA-Friendly Broker-Dealer, RIA Welcoming Breakaways, Advisory Firm
Top Executive: Dan Arnold
Raymond James Financial Inc.
Asset Custodian
Top Executive: Bill Van Law
Diamond Consultants
Recruiter
Top Executive: Mindy Diamond
