Finance
LPL and $12 Billion Merit Financial Part Ways
During LPL Financial’s earnings call last week, CEO Dan Arnold disclosed that two wealth management firms that have kept client assets at LPL and used the company’s platform would be departing.
Now, one of those firms has been identified as Merit Financial Advisors, a top-ranked hybrid registered investment advisory firm that oversees $12 billion in assets. Merit confirmed Wednesday that it is leaving its current broker-dealer and custodial relationship with LPL Financial. The move comes after LPL earlier this year added…