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LPL to launch ‘mutual fund only’ platform

LPL Financial, the nation’s largest independent broker-dealer, plans to roll out a new “mutual fund only” platform in 2018 aimed at removing conflicts of interest in advisor compensation, according to Financial Advisor. The move comes as the DOL’s fiduciary rule is taking effect. See the full story below. Meanwhile, Raymond James Financial Services is changing its compensation plan to a single payout grid, Financial Advisor reports. “Depending on product mix and production, the changes could represent a cut in pay for some advisors,” according to the publication. A link to the story follows.

LPL Prepares Mutual Fund Platform To Comply With DOL Rule

By Christopher Robbins

Source: Financial Advisor

As the Department of Labor’s fiduciary rule takes effect, the nation’s largest independent broker-dealer will roll out a new mutual fund platform intended to remove conflicts of interest in advisor compensation. Charlotte-based LPL Financial has announced that beginning in 2018 it will offer a “mutual fund only” (MFO) platform with standardized commissions.


Raymond James Financial Moving To Single Payout Grid

By Dan Jamieson

Source: Financial Advisor

In response to the DOL fiduciary rule, Raymond James Financial Services will be changing its compensation plan so that all production is paid off of one grid. The move comes at a time when many broker-dealers are wrestling with the issue of broker payouts in expectation that they will face more scrutiny in a post-DOL world. Some observers speculated that the switch to a single payout grid was designed to eliminate the perception of potential conflicts of interest.


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