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Stories of Interest
- Billionaire Investor John Paulson's Hedge Fund Is 'Rightsizing', And a Bunch of Senior Staff are Leaving
- 10 Years Ago a Wall Street Firm With $400Bn in Assets Collapsed. Why Bear Stearns Could Happen Again
- FINRA Disciplinary Actions for March 2018
- Ex-Deutsche Bank Trader Pleads Guilty Over Euribor Rigging
- SEC Proposes Transaction Fee Pilot for NMS Stocks
- FINRA Board of Governors Meeting - March 2018
- Winklevoss Twins Have a Plan to Police Cryptocurrency Trading
- Trump Picks Larry Kudlow as New Top Economic Adviser, Source Says
- A Decade On, Was Bear a Bad Deal for JPMorgan?
- Theranos, Its CEO and Former President Charged With Massive Fraud
- Wall Street's ‘Diva of Distressed’ Throws Her Funds Into Bankruptcy
- How a Former NBA #1 Draft Pick Went From $61Mn Fortune to Owing $157K
- Foreign Affiliates of KPMG, Deloitte, BDO Charged in Improper Audits
- Trump Fires Secretary of State Tillerson - Picks CIA Director Pompeo
- Credit Karma, Pre-IPO FinTech Company, Violated Rule 701 Disclosure Requirements - SEC
- Goldman Sachs' Schwartz Retires, Paves Way for Solomon as Next CEO
- Damning Emails: Trump's Lawyer Used Trump Organization Email in Hush-Money Negotiations with Porn Star Stormy Daniels
- 'Pharma Bro' Martin Shkreli Sentenced to 7 Years In Prison - Says 'This is My Fault'
- FINRA Investor Alert: Lost Property - Don't Be Escheated Out of Your Savings or Investments
- Analyst Dick Bove Calls Possible Blankfein Exit from Goldman 'Wonderful' News
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NEWSLETTERS & ALERTS
LPL Financial Enjoys Big Gains in Stock Market
On a day when most financial stocks lost money, LPL Financial Holdings had a huge day closing at $42.48 a share, up 10.28%. While the $3.96 jump in share price - including after-hours trading - could not be directly attributed to any transaction, we came across 2 stories featuring the company:
- LPL Awaits Fiduciary Rule ‘Disruption, After Profit Drop (WSJournal, 4/27 6:18 pm)
- LPL Financial’s Earnings Decline (Barron's, 4/28 1:13 pm)
Here's what we learned from those articles. LPL Financial just reported its Q1 earnings, which exceeded analyst expectations even though they fell from one year earlier. In terms of dealing with the transitory nature of the fiduciary rule, LPL Financial expects the rule to eventually take effect and benefit its business. While the firm has been pushing its business toward fee-based revenues, it will nonetheless permit its brokers to continue charging commissions - subject to certain restrictions. This is unlike the approach that Merrill, JPMorgan and other rivals are taking, and the firm is confident that this different approach will work to its benefit.