Kaplan Financial Education and think2perform’s Behavioral Finance Advice Program Now Available to LPL Financial Advisors
UPDATE: Here are reasons to doubt the comeback by value stocks
The broker-dealer first announced a robo initiative last summer, but has held off until now, as they've teamed with BlackRock's FutureAdvisor on a new adviser-facing robo.
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.
A Michigan pension plan says the company bought back shares at artificially inflated prices because of misleading statements it made about its financial condition.
Dan Arnold, LPL's president, says the firm plans to launch a robo that won't replace its financial advisers but will "gain a certain amount of the market."
Over 60 brokers have jumped to LPL since October, MetLife alleges; former brokers strike back, accusing the insurance company of poor practices.
Finra says Wells Fargo, Raymond James and LPL self-reported their failures to waive sales loads for Class A shares for retirement accounts and charities.
Plus the latest on LPL's new collaboration with Redtail Technology, Laser App software sees continued growth and more.
LPL CEO Casady says that as written, rule would bar sales of certain alternative investments in brokerage retirement accounts. (See also: Democratic senators split from White House on DOL fiduciary rule )