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I’ve researched both and very similar.
LPL is trying to really grow and keep together all the firms they recently acquired. They’ve had to backtrack a little to entice some advisors to stay there. By sheer numbers LPL is larger.
I do like RayJay and especially their chief market guy Jeff Saut. Ticket charges I’ve heard at RJ are a pain though and more than LPL. Technology is decent at both.
Why are you down to those two? Shave your head and tattoo a bar code on it so they can scan you at the National conference.
I just eliminated them from my search and I think I'm going with Cambridge
Prospera Financial. Privately owned, boutique firm. Custody with Wells Fargo or Pershing. Caters to larger producers. Avg GDC ~ $500k
Cambridge is definitely a quality organization too. I like the way they preach culture and importance on family.
3200 advisors vs 16k at LPL and 7600 RJ
Smaller numbers means also less (or no) brand recognition, not that you need that when you’re Indy.
I think my main attraction to them is no bad brand recognition
And privately held versus pubilcy traded
Finet?
What kind of up front checks does ray jay offer on their independent side?
Lpl will give you a higher payout. RJ has better service and tech.
Rj pays anywhere from 20-40% upfront maybe even more for really large producers