Financial LPL is a classic example of a “inheritance firm” – built over time on a solid and durable foundation.
While many can see long firms as immutable and resistant to change, new CEO of LPL, SteinmeierIt is proving that it is a wrong concept.
LPL indicates that the durable heritage built to extend are those located on a solid foundation of the past, while constantly evolving and transforming to become better and stronger for the future.
LPL was born in 1989 from the merger of two small brokerage firms, Linsco and Private Ledger, and was created as an alternative to traditional Wall Street firms. The vision of the founders focused on the help of financial professionals to build competitive businesses while serving the best interests of their clients.
However, as Rich puts it, the basic legacy of LPL is in the way it views its advisers: they are LPL clients, and the tradition of treating councilors as “people, not account”, remains today.
Since Rich was raised to the rank of CEO in October 2024, his role has been to advance LPL value proposals, such as care for councilors and institutions so that they can take care of the clients.
https://www.youtube.com/watch?v=3w8bqpb1piu
In this honest conversation with Louis Diamond, Rich shares a back-to-sign perspective of the firm, including:
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Rising to the CEO ranks – and his vision for LPL now and in the future.
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A look back in inheritance – and how the basic principles are informing their direction and goals.
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Continuous raising of the service grass – and why “finding more ways for councilors to win” is such an important concept.
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The variety of ways for councilors to relate to the firm – and how it is transforming the way councilors consider independence.
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The crisis of success – and as the LPL sees an opportunity for their advisers and businesses.
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Their way to become a $ 1.8t firm – and what is increasing their growth.
It is a rare, honest conversation with CEO of one of the hottest firms of wealth management in the industry.