LPL Financial Heats Up the RIA World

Charles Schwab, Fidelity and TD Ameritrade will soon have a new and powerful rival to worry about, while the hybrid broker / independent RIA model should get a major boost. The largest independent B/D in the U.S., LPL Financial, announced today it's going to launch an RIA custodian later this year, which will serve both hybrid and fee-only investment advisors who operate independent RIAs. LPL currently has about 12,000 Series-7 advisors under its massive B/D umbrella.

LPL Financial Heats Up the RIA World
Source: Insurance News Net