LPL, which acquired Waddell & Reed’s wealth management business last year, says the program in question was discontinued following the acquisition.
September 20, 2022
Broker-dealers like Cetera and LPL are increasingly winning share in the bank wealth channel as these institutions aim to bulk up advice.
The firm is making securities-based lending available to targeted groups in 2022 and will expand it further in 2023.
Dennis Moseley-Williams of DMW Strategic Consulting recommends narrowing in and offering clients individual experiences.
The Federal Reserve has been “peppering” the firm with queries about the unit for weeks, Bloomberg writes, citing anonymous sources.
The new platform, myVoyage, will also let users see their accounts from third-party providers and receive “holistic” financial wellness support, according to the firm.