Calling all RJF and LPL reps
I have been in the business for 18 years and with Raymond James for over 8 years. It seems to me that the compliance attitude and general home-office attitude has gone over the top. In addition the Variable Annuity changes are killing me. Is there anyone out there who feels like I do? I am strongly considering changing B/D's to LPL but don't want to go from the fire to the frying pan:) Thoughts anyone?
The Oracle(NASD Newbie ) will let you know. He is one smart dude....just ask him...B/D's, Italian cut suits, options and hurricanes just to name a few.
I have a few friends at or were at RJ, there's been a lot of talk on this and the idea that LPL will soon follow. I can tell you that the language from Mark Cassidy and Bill Dwyer at LPL show zero sign of any thought of doing this. Mark at a discussion during our national conference chuckled about the direction of RJ and wondered allowed how they can be making the decisions they are.
VA - LPL has I think roughly 80 selling agreements of all of which can be done via electronic applications. NO TICKET CHARGES.
I am not hit with ticket charges like you are for my clients that do systematic investing. One of the platforms I use OMP - LPL just eliminated the small account fee on it.
Think about that - look at the changes RJ has implemented in the last year and how that compares to some of the brief things I mentioned. I honestly believe your worry is of no merit. LPL raises payouts, eliminates fees, make it easier for me to process my business and overall, the service has maintained an exceptional level of performance for me. From the friends I know at RJ it couldn't be more opposite. Try and find some of the advisors that left RJ for LPL and get their thoughts; I would be shocked if they felt it was a similar atmosphere at LPL.
Best of luck.