May 22, 2019
Louis Diamond Quoted
By Brooke Southall
LPL Financial Holdings Inc. can no longer be called a pure independent broker-dealer. Watch out Wall Street.
The largest of the independent broker-dealers just took a bold step toward making the full-service broker-dealer model a solid option for wirehouse breakaways.
Louis Diamond, principal of Diamond Consultants in New York, calls the deal “smart.”
“The trend is primarily toward independence but at the end of the day, it’s not for everyone,” he says.
