LPL's Top Broker Breaks Away To Stay Ahead Of Competitors

Tuesday, May 03, 2011 06:24
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LPL's Top Broker Breaks Away To Stay Ahead Of Competitors

Tags: independent broker-dealers | LPL | registered investment advisors

Carson Wealth Management, the $3 billion shop run by Ron Carson, is breaking away from LPL to become its own RIA and, eventually, broker-dealer.

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Ron Carson lays out the motive here very simply: in a world where clients and prospects want more and more from advisors, even he needs to "stay ahead of the competition."

 

That required starting an independent RIA and eventually an affiliated broker-dealer, he says.

 

Carson is often ranked in the top 10 advisory firms in the country and has been LPL's top producer throughout his tenure there.

 

The firm accounts for about 1% of LPL's sprawling $330 billion in AUM.

 

An idea of scale here: When Carson leaves in July, the average AUM that each advisor runs will drop by $1 million. 

 

But given the "walled garden" nature of the LPL platform, Carson will keep clearing its trades through the old firm.

 

 

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