Summary: Bill Morrissey, LPL's chief recruiter, argues that the IBD is well positioned to capitalize from the new Department of Labor fiduciary rule. For one, the rule is expected to accelerate consolidation and push advisers to new homes.
 Thoughtful advisers have many more options now. Everyone is considering going independent and there is more competition than ever before. Advisers can play LPL and its competitors against each other to bid for their services, so it's a much more challenging [recruiting] environment."Danny Sarch, president, Leitner Sarch Consultants |
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