The Michigan-based advisers were affiliated with LPL for more than 15 years.
Revenue tied to alternative investments such as nontraded REITs plunged 72% year-over-year.
Justin Nelson Earns CERTIFIED FINANCIAL PLANNER™ Certification
Odds of Fed rate hike in December marked up after policy statement
The adviser-owned independent broker-dealer is in “serious discussions” to be acquired by a larger firm, with LPL , Cambridge, and others as potential suitors.
Ryan Parker joins RIA in the latest of many executive departures from LPL in the past few years.
Lobbying group's chairwoman said its biggest member firm bolted after it couldn't get a break on annual dues for large firms.
Peter Neuberg agreed to a six-month suspension and $15,000 fine.
In moves that indicate across the board belt-tightening at LPL Financial, the company has eliminated as many as 70 jobs and is delaying raises to employees next year by at least six months.
Over 60 brokers have jumped to LPL since October, MetLife alleges; former brokers strike back, accusing the insurance company of poor practices.