LPL Changes Compensation Structure for Recruiters
LPL Financial has recently announced that it is changing the way that it pays external and internal recruiters. In the past, LPL’s recruiters received the same compensation for successfully recruiting advisers to join either the firm’s own registered investment adviser or a hybrid RIA affiliated with LPL. LPL is now changing that model to provide more compensation to recruiters for recruiting advisers to join LPL’s corporate RIA. Moreover, recruiters are compensated less if a candidate ends up at one of LPL’s affiliate RIAs, which could custody assets for a competitor.
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