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 With outdated guidance, a lack of insight, and near zero influence seemingly ruling the day, it comes as no surprise that firms are re-evaluating their approach to DOL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.
Last week, DeVoe and Company released some interesting statistics related to RIA mergers & acquisitions. While the slight uptick in the first quarter of this year of 47 M&As over 46 M&As last year offers an indicator of strength, the most illuminating statistic comes when comparing who the mergers are occurring with.
Wells Fargo recently announced a new recruiter incentive commission to any recruiters that refer advisors to Wells Fargo.
Last week, UBS unveiled its Advice Advantage Platform, a service platform which allows customers to transact their business virtually with a human-assisted robo-advisor.
