LPL trend for 90% retention of Commonwealth advisors, says CEO Steinmeier

Rich Steinmeier, Financial Chairman of LPL Financial, said on Thursday that the largest independent broker dealer of the state-pigeon of a flood of recruitment pushing of competitor. close.

“Overall, the transaction is going very well,” said Steinmeier (in the picture), during a winning call about the results of LPL for the first quarter of 2025.

“We saw that it was adequately weakened on the market for the deal, but that really speaks for the importance of the Commonwealth franchise and honestly about the quality of their advisors. This is exactly what we expected with a franchise of this quality. '