LPL Changes Compensation Structure for Recruiters

Posted on March 15th, 2017 at 10:39 AM
LPL Changes Compensation Structure for Recruiters

From the Desk of Jim Eccleston at Eccleston Law LLC:

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.

This new payment structure has received mixed reviews from LPL branch managers, who rely on the independent broker-dealer to support all efforts to bring in new advisors. 

The attorneys of Eccleston Law LLC represent investors and advisers nationwide in securities and employment matters. The securities lawyers at Eccleston Law also practice a variety of other areas of securities for financial investors including Securities FraudUnauthorized TradingBreach of Fiduciary DutyRetirement Planning Negligence, and much more. Our attorneys draw on a combined experience of nearly 65 years in delivering the highest quality legal services. If you are in need of legal services, contact us to schedule a one-on-one consultation today.

Related Attorneys: James J. Eccleston

Tags: Eccleston, Eccleston Law, James Eccleston, Eccleston Law LLC, LPL Financial

Return to Archive

TESTIMONIALS

Previous
Next

I want to extend a tremendous thank you for your dedication, professionalism, hard work and patient demeanor through this challenging time. It was enjoyable interacting with everyone on your team, this certainly helped while dealing with the situation and working towards resolution.

Dan M.

LATEST NEWS AND ARTICLES

February 23, 2024
Advisor Accepts Industry Bar Amid FINRA Probe into Outside Business Activities

John A. Dougherty, a veteran advisor with 23 years of experience, agreed to an AWC (Acceptance, Waiver, and Consent) after refusing to cooperate with a regulatory investigation into allegations of undisclosed outside business activities.

February 22, 2024
Key Considerations for Advisors When Assessing the Financial Soundness of Annuities

While rating agencies like Fitch and S&P Global Ratings generally highlight the strength of annuity issuers, advisors still should scrutinize certain factors in their assessment process.

February 21, 2024
SEC Alleges Fraud Against Morgan Stanley and Former Executive in Block Trading Business

As reported by the Wall Street Journal, the Securities and Exchange Commission (SEC) has charged Morgan Stanley & Co. LLC and its former head of equity syndicate desk, Pawan Passi, with a multi-year fraud involving the disclosure of confidential information related to block trades.