LPL Seen Getting Securities America Reps If Not The Firm Itself

Monday, May 09, 2011 07:09
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LPL Seen Getting Securities America Reps If Not The Firm Itself

Tags: independent broker-dealers

More rumors that a lot of Securities America brokers are at least considering fleeing to LPL. If so, LPL could get a big chunk of its rival's business without absorbing the legal liabilities. 

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LPL is reportedly actively recruiting from Securities America even as reps there look for an exit ahead of that company's probable sale.

 

This would make sense, since it would give LPL a decent piece of Securities America's share of the independent broker-dealer channel, while letting CEO Mark Casady avoid taking on what he might consider a "distressed" property.

 

But it remains to be seen how many reps actually flee Securities America ahead of its sale. It's good to know where your exits are, but jumping for the sake of escape -- and not as part of a planned career transition -- seems at least as dangerous as hanging on waiting for the firm to be sold.

 

 

 

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