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

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