Lpl ipo

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Sep 29, 2009 5:22 pm

There are plenty of buzz about LPL' IPO. Why the firm only giving options to management and not to reps?. Worse is, counsellors (lawyers) are gobbling all the options here too. 12,000 reps are out there working day and nite wih this market to earn a profit for the firm, but no award of options. May be we need an association to represent and bargain!

Sep 29, 2009 5:27 pm

Aren't the 12000 reps out there working day and nite in this market to earn a profit for themselves and their firm? Aren't they independent business owners?

Aren't they clients of the firm? I don't think they are employees, like the managers are.
They are self employed business owners, without an employee mentality. When companies go public they generally don't give options to their clients.
 
Thats why
Sep 29, 2009 5:28 pm

I believe some of the big producers do have stock options.  I could care less what they do as long as they don't cut the payouts.  You sound as if the reps work as employees...we run our own businesses and if LPL(private) wants to become LPL (public), they can do what they want with their options, its America. 

Give Acorn a call and see if they can get you some options.
Sep 29, 2009 5:51 pm

let us agree without doubt, current B/D models are kind of a pyramid scheme for lack of a better word. If reps could have worked and earned any income without these B/D, nobody would have cared to send half your commissions to someone with a sign of B/D. B/D have no existence without reps working their tail of to feed the monsters. B/D are nothing but a glorified AMWAY operations with more similarities. I don't see stock options showered to cooks, dishwashers and to the one fetching coffee to the corner office will glorify America's capitalistism by any means, but reps who pop up the base of these otherwise sand castles should be the one rewarded without any hesitations or grudge.

Oct 1, 2009 7:45 am

this is the number one reason I did not go to LPL when I went indy.  I felt as if I would be jumping from frying pan to fire in 5 years, and the last thing I wanted was to be a profit center for a corporation again.  This is not a shot to LPL or the great reps who use them, just my reason for using a different b/d for my indy trip.

Oct 1, 2009 8:26 am

ebsusee, reps of independent B/D's don't work to earn a profit for the B/D.  They work to earn a profit for themselves.   I don't know of any company that gives stock options to people who aren't employees.  The reps are rewarded by high payouts.  If you don't like the 90%+ payout that a top rep can earn there, go somewhere else.  Regardless, quit whining.

 
I don't even know if a firm could legally give stock options to a non-employee registered rep.  To the best of my knowledge, a RR can't participate in an IPO, but there may be exceptions.
Oct 1, 2009 9:32 am

If LPL were structured as a partnership, with reps making an equity contribution to the parent, then maybe a case be made to grant options to the reps.

 
Right now the Reps are indendent contractors, not employees, not equity investors or partners.
Oct 1, 2009 12:42 pm

Been doing this for 12 years now. With LPL 7.

 
The reps with options joined before 1998 or there abouts the waqy I understand it.
 
While I would like some options, who would not, I am more concerned about what the firm will look like after the IPO!
Oct 1, 2009 1:22 pm
Greenbacks:

Been doing this for 12 years now. With LPL 7.



The reps with options joined before 1998 or there abouts the waqy I understand it.



While I would like some options, who would not, I am more concerned about what the firm will look like after the IPO!





That would be my fear too. That is why I didn't choose them. To me they look like the equivalent of EDJ on the indy side. A bunch of reps, everywhere, but controlled by a few people(hedge funds). My biggest fear if i was there is that if they do go public, what changes?

Oct 1, 2009 4:12 pm

So where did you go?

Oct 1, 2009 4:18 pm

When I left EDJ i looked at LPL but it smelled too much like jones. So went elsewhere(crappy b/d) but now I am moving to Harbor.