In the firm’s fourth quarter earnings call, executives discussed efforts to keep Commonwealth advisors on board post-acquisition.
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Some of the Commonwealth advisors currently in the LPL system could wind up leaving later this year.
Florida-based Hinck Private Wealth Management is the latest formerly Commonwealth team to join Osaic’s growing network of RIAs.
There have been reports of advisors leaving, as well as a race among competitors for the industry talent that went up for grabs.
The firm is highlighting its potential advantages for advisors who might be on the fence about going to LPL Financial.
The move would increase its advisor workforce by 2%, outpacing the industry average growth rate of 0.3%.
While LPL traditionally marketed to advisors, the new effort aims to make its name more recognizable to everyday investors.
Shares of the country’s largest independent broker-dealer surged 13% over the past week.
Commonwealth advisors are now hot ticket items, and some are being offered lucrative deals from competitors.