Gone are the days of deciding whether financial planning should be offered, said executives. Today, the decision worth considering is how to charge for it.
The advisors at Equitrust Financial Group felt it would be in clients’ best interest to affiliate with a publicly traded b/d with self-clearing capabilities.
Bialke Financial Partners has joined Financial Resources Group Investment Services, one of LPL’s large offices of supervisory jurisdiction, and the team will operate as the investment arm of American Bank of the North.
San Diego-based advisors Scott Dudley and David McQuade align with Financial Advocates, one of LPL Financial’s largest offices of supervisory jurisdiction.
LPL believes the new model addresses some of the pain points that exist among employee advisors, such as surety of their payout, owning the client relationship, the actual payout grid and the tax treatment of the sale of a practice.