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Stories of Interest
- Citigroup Raises CEO Corbat's Pay 48% to $23Mn
- Should Congress Create a Crypto-Cop?
- JPMorgan Weighs Buying an Exchange-Traded Funds Firm
- Hey, Goldman Sachs: Wanna Buy BNY Mellon?
- SEC Order Rejecting Acquisition of Chicago Stock Exchange (CSX) by Chinese-Baesd Company
- Kyle Moffatt Named Chief Accountant in SEC CorpFinance
- SEC Suspends Trading in 3 Issuers Claiming Involvement in Cryptocurrency and Blockchain Technology
- Karen Garnett, Assoc. Director of SEC CorpFinance, to Leave After 23 Years of Service
- Louisiana Adviser Barred for Hiding Losses from Investors
- Connecticut HF Manager Illegally Diverted Investor Money - Now Owes Nearly $13Mn
- White House Cleaning House of Advisors Without Full Security Clearance
- Goldman Projects 30% Growth in Wealth Management Advisor Force
- Whistleblower Alleges Manipulation of CBOE Volatility Index
- FINRA Looking Into VIX (CBOE Volatility Index) Manipulation: WSJ
- Atlanta-Area Resident Charged with Misusing Investor Funds - SEC
- FINRA Announces 2018 West Region Networking Seminar
- Alberto Arevalo, Associate Director in Office of International Affairs, to Retire From SEC
- A Culprit for Financial Site Glitches: You and Your Apps
- Investor Protection, Capital Formation and Market Integrity Are Top Priorities in SEC Budget Request
- We Must Stop Out-Of-Control Trading or U.S. Capitalist System Will Break Down - Dick Bove
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NEWSLETTERS & ALERTS
LPL Financial No Longer Claiming to Be ‘Conflict Free’
LPL Financial is the nation’s leading independent broker-dealer, with more than 14,000 financial advisors and some 700 financial institutions. And, as of Monday, LPL Financial is no longer “Conflict Free.” The firm removed the following phrase from its web site and instructed its affiliates to do the same:
“LPL Financial understands that providing Americans with unbiased investment advice is critical to their financial security. Because the firm has no proprietary products to sell, LPL Financial can provide truly unbiased, conflict-free advice and investment recommendations.”
The impetus for this change was an article published last week by WSJ ‘Weekend Investor’ columnist Jason Zweig, “Why Your Financial Advisor Can’t be Conflict Free.” who started off with this statement:
“All financial advisers - like all people who perform a service for anyone else, including journalists - have conflicts of interest. That’s true regardless of whether they work for someone else or for themselves, whether they earn fees or commissions, or whether they call themselves ‘fiduciaries’ who put clients’ interests ahead of their own.”