Quantcast
The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:LPL Will Launch New Mutual Fund Accounts in Q4 Not Rated 0.0 Email Routing List Email & Route  Print Print
Tuesday, August 23, 2016

LPL Will Launch New Mutual Fund Accounts in Q4

Reported by Neil Anderson, Managing Editor

Later this year, a giant independent broker-dealer will launch a new mutual fund account for its affiliated financial advisors.

Dan Arnold
LPL Financial
President
"We're working with some of our mutual fund sponsors to try to develop a no-transaction-fee program for select mutual funds with SAM [Strategic Asset Management]," Dan Arnold, president of LPL Financial, told FAs this morning at the independent broker-dealer's giant annual Focus conference at the San Diego Convention Center.

"We should be ready to roll that out in the fourth quarter of this year," Arnold said.

Arnold did not reveal specifics about the number of mutual funds. Rob Pettman, executive vice president of product management, investment planning and solutions, later told FAs that the plan is to start the program with nine mutual funds and then build it out with more.

Arnold also touched on a number of other subjects, including the industry-wide trend away from brokerage accounts and towards advisory ones.

"We've seen new asset flows go from about 35-percent advisory to about 70-percent" in the last five years, Arnold said, adding that advisory assets for LPL affiliates has doubled to $200 billion in the same time frame.

The LPL team is also developing a tool to simplify the process of shifting an account from brokerage to advisory. That tool, Arnold said, will also debut in Q4.


Arnold framed his remarks with the image of a military unit working together to take a hill:

As your partner, I want us to show up every single day with a take-the-hill mentality. We will strive for nothing less than being extraordinary ... It won't be easy, but we'll take on those challenges together ... We will get up that hill through relentless execution ... We will make mistakes, but we will be accountable for them. If we can't be perect, we'll settle for being extraordinary
LPL, Arnold said, has a "great mission" to deliver independence advice, to Americans, through financial professionals in their local communities.

"American investors need us more than ever," Arnold said. 

Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE

0.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
2022: Q2Q1
2021: Q4Q3Q2Q1
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Raw XML
Add to My Yahoo!
follow us in feedly


  1. Nicsa webinar - Luxembourg: The FinTech Gateway to Europ, May 18
  2. MMI webinar - How Wealth Firms Can Attract and Retain the Modern Investor, May 18
  3. ICI webinar - New Research Shows "First-Mover" Is a Universal Investor Response — Not Unique to Open-End Mutual Funds, May 18
  4. MFDF webinar - Mutual Fund Director Compensation: The MPI Annual Survey (2022), May 19
  5. 2022 ICI Leadership Summit, May 25-26
  6. ALFI Roadshow to New York, May 25
  7. 2022 IDC Fund Directors Workshop, May 26
  8. Irish Funds Annual Global Funds Conference 2022, May 30-31
  9. WealthManagement Edge, May 31 - June 3
  10. MFDF 2022 Fund Governance and Regulatory Insights Conference, Jun 8-9
  11. 28th annual Expect Miracles East Coast Classic, June 9
  12. 2022 Sohn Investment Conference, June 9
  13. IDC webinar - Cybersecurity for Fund Boards: The Current Landscape, June 9
  14. MMI webinar - Driving Business Value with Artificial Intelligence & Data, June 15
  15. MFDF webinar - Key Takeaways From Morningstar's 2021 Annual Fund Fee Study, June 16
  16. MFDF Director Discussion Series - Open Forum (Chicago), June 21
  17. 2022 MMI Emerging Asset Managers Forum, June 23
  18. MFDF In Focus: Capitol Hill, A Conversation with Congressman Bryan Steil, June 28
  19. Financial Planning INVEST, Jun 28-29
  20. MFDF webinar - Differentiating Mutual-Fund-to-ETF Conversions, July 19
  21. MFDF Director Discussion Series - Open Forum (New York), July 20
  22. 2022 MMI Distribution Leadership Forum, Jul 20-21
  23. MFDF webinar - Fund Boards' Oversight of Investment Performance, July 28
  24. MFDF webinar - Performance, Perception and Manager Selection, September 14
  25. 2022 ICI Tax and Accounting Conference, Sep 18-21
  26. 5th annual Expect Miracles Atlantic Coast Classic, October 3




©All rights reserved to InvestmentWires, Inc. 1997-2022
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use