Howard Diamond Quoted
By Janice Kirkel
LPL Financial’s new CEO made a smashing debut yesterday by laying out a refreshingly sober strategy.
The Boston-based broker-dealer let Dan Arnold, 51, take the stage not to wow with a new direction but to pump new life into the old one. He essentially made the case that LPL can use its scale to win its fair share of market share in a fast-growing market.
I think with the defection of some very large, high profile reps and problems that LPL has had with recruiting and retaining the larger ones, they have decided to ‘focus on their knitting,’ writes Howard Diamond of Diamond Consultants in Morristown, N.J. in an email. “That is, [they will] attempt to cultivate and grow the smaller FA base that made them the behemoth that they are today.”