Lpl ria

I’m a little curious – I thought LPL was entering the RIA-Only Custodian business in competition with Trade-PMR, Schwab Institutional, Fidelity, etc., etc., is this not the case?

  They force you to maintain a B/D registration?  That is strange if true.

[quote=FVDA_Trade-PMR] I’m a little curious – I thought LPL was entering the RIA-Only Custodian business in competition with Trade-PMR, Schwab Institutional, Fidelity, etc., etc., is this not the case?

They force you to maintain a B/D registration? That is strange if true.[/quote]



They were supposed to. But, I haven’t heard ‘boo’ regarding their offering on that platform.



I noted many articles from 2008, but I haven’t seen anything on their website indicating that they were providing custodial services for people that wanted to ‘bring their own RIA’.



Under their existing system, you still have to maintain your BD registration, but also serve (as Ice mentioned) as an IAR under their RIA.



C