Some of LPL's most prominent advisors loved Dan Arnold because he was a nerd.
Wells Fargo Advisors management stresses stability, while recruiter says it appears "faucet of advisors leaving has turned into a drip."
“The numbers are wrong," says broker, who made $1.5 million after guiding clients to invest in friend’s firm, according to the Bureau of Securities.
“The evidence in this case was overwhelming,” says an attorney.
“It makes you wonder what’s next,” says one recruiter.
Will LPL Financial Holdings Inc. be dragged through the mud in the wake of Arnold’s firing?
“Data security remains a top priority at TIAA," says company spokesperson.
At the helm is interim CEO and LPL veteran Rich Steinmeier.
Based in suburban St. Louis, Maloney Securities has 125 financial advisors on its platform.
Through August, financial advisors had sold $76.6 billion of illiquid alternative investments, according to Robert A. Stanger & Co. Inc.
