LPL turns a page with new CEO at helm; advisor confidence buoys but election anxiety persists; talking climate risk with clients
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EARNINGS: In his first earnings call as LPL Financial CEO, Rich Steinmeier boasted of a bumper quarter for recruiting asset hauls but made no mention of his recently ousted predecessor.
The call was full of congratulations to Steinmeier and his freshly minted Chief Financial Officer Matt Audette for their new roles and the results they helped produce in a strong quarter for the large independent broker-dealer. But neither analysts nor Steinmeier and Audette mentioned the recent turmoil at the top of the firm following the firing of former CEO Dan Arnold almost a month ago for failing to maintain a respectful workplace. Instead, Steinmeier and Audette described how recent recruiting hires and acquisitions helped propel the company to a record for total assets.
FINANCIAL ADVISORS: As Election Day approaches, confidence in the U.S. economy among financial advisors has improved to its highest point in half a year.
That's the overall sentiment reflected in data from this month's Financial Advisor Confidence Outlook (FACO), a survey of financial advisors and planners by Financial Planning/Arizent. Here's what advisors said about their outlook on the U.S. and global economy and more.
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RISK MANAGEMENT: “As financial advisors, we're familiar with talking to our clients about sources of uncertainty as they impact the financial markets and client holdings, so it's important for us to be informed and even proactive about the potential impacts of climate change,” writes Kimberly Foss, CFP?, CPWA? of Mercer Advisors.?
And it’s not just portfolio risk that advisors need to speak to clients about when it comes to climate shifts — there are also potential opportunities that should be considered. Check out Foss’s recommendations on climate conversations with clients.??
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IT Project Management - Financial Systems
4 个月My Financial Advisor just merged with LPL so I will be keeping both eyes on their leadership and performance.
Self Employed
4 个月When I become NEVADA SENATOR SMART, my first act will be to regulate credit bureaus. Today Credit Bureaus can show delinquency without showing income. That is just WRONG. INCOME MUST BE RECORDED IN A PERSON’s CREDIT BUREAU REPORT!!!
Self Employed
4 个月I just don’t trust banks anymore. Now they make money with credit cards. Lots of money!!!