LPL on the Rebound

Nearly a year ago, LPL Financial CEO Dan Arnold took a deep breath, picked up the phone and made one of the toughest calls of his tenure leading the independent broker/dealer. The firm’s acquisition of National Planning Holdings was not going smoothly. Speaking to home office leaders, he explained that advisors from NPH were unimpressed with the culture of LPL. The reputation of the country’s largest IBD, already strained among some advisors, was taking a hit. Its service to advisors, its approach to innovation, even leadership style needed a change.

What a difference a year can make.

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