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After RIA private equity hot-shot Genstar’s $1.7 billion purchase of ugly duckling Cetera, Robert Moore plans to take on LPL–not with acquisitions, but a recruitment storm

Louis Diamond Quoted - By Oisin Breen, RIABiz - With Genstar's deep pockets backing him, Moore is ready to beat LPL Financial at its own game -- bone crushing scale.

Louis Diamond Quoted
By Oisin Breen

With Genstar’s deep pockets backing him, Moore is ready to beat LPL Financial at its own game — bone crushing scale.

“If that [means] 10,000 [new advisors], if it’s 20,000, even better, if it’s 30,000, we’re ready to break through what appears to be the ceiling that’s historically been there,” he says.

Whenever there’s a change of ownership at an IBD “it’s a time when advisors think long and hard about whether they’re in the right place, especially since every B-D and recruiting firm is hungry to capitalize on the change,” says Louis Diamond.

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