The move would increase its advisor workforce by 2%, outpacing the industry average growth rate of 0.3%.
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While LPL traditionally marketed to advisors, the new effort aims to make its name more recognizable to everyday investors.
Shares of the country’s largest independent broker-dealer surged 13% over the past week.
Just over 70% of Americans say they don’t want to live to be centenarians, afraid they won’t be able to afford the costs of longevity.
Both independent broker-dealers reported earnings that missed the mark in some segments.
Commonwealth advisors are now hot ticket items, and some are being offered lucrative deals from competitors.
JPMorgan said it has swapped out “equity” for “opportunity” in an effort to better reflect the program’s goals.