The well-publicized release of Merrill Lynch’s revamped advisor compensation plan has left the industry rumbling and Merrill advisors apprehensive.
HD Vest is asking its advisors to show them the money and their advisors are delivering. In a dramatic paradigm shift in recruiting and retention philosophy, HD Vest instituted a new plan last year
Frank LaRosa, CEO of Elite Consulting Partners, is the featured writer of Financial Planning’s Voices column, May 21, 2018.
LPL Financial has been playing the game of The Price Is Right when it comes to their advisors and fees. It all started earlier this year when LPL announced they were lowering fees for advisors with $100 million or more on the LPL Strategic Asset Management (SAM) platform to a flat 3-point administrative fee.
It’s becoming increasingly evident that the DOL is on life support. With outdated guidance, a lack of insight, and near zero influence seemingly ruling the day, it comes as no surprise that firms are re-evaluating their approach to DOL mandates.
