LPL Financial has launched a new affiliation model for high-net-worth-focused advisors. LPL Private Wealth Management is an employee model, and it aims to provide the resources and structure that a wirehouse advisor would typically have, at a higher payout. “We are launching LPL Private Wealth as an employee advisor affiliation model because we see a…
Tag: Model
The Rise of the “Indeployee” Model in Financial Advice
I embarked on my career in this industry almost three decades ago, working with what was then the up-and-coming RIA custody organization known as Charles Schwab Institutional. Now known as Schwab Advisor Services, the custodian has become synonymous with the independent advisor model with over 7,000 RIAs and $3.5 trillion in assets. Back in 1995,…