LPL Financial

Bruce Kelly reports that LPL management was caught off guard by news that Montana is probing the brokerage's sale of nontraded REITs.

Joe Connell exiting after just a year at the brokerage; costs of LPL affiliation a factor

Company is said to be pursuing an acquisition of one or more broker-dealers

Long-time executive had most recently been lobbying in Washington for independent broker-dealers

LPL Financial LLC is trying to reach a wider swath of brokers by buying commercial ads on business news channel CNBC. It is the first time that LPL Financial has used a national media campaign since being acquired by two private-equity firms in 2005. The use of commercial spots runs counter to the

Massachusetts Securities Division seeks payment to investors who bought shares of nontraded real estate investment trusts

Last week, Massachusetts sued LPL for its sales and marketing of a popular nontraded REIT. Expect the plaintiffs' bar to swoop in as well.

Companies could distribute special dividends that may total a record $100 billion to shareholders ahead of the likely expiration of the Bush-era 15% top tax rate on dividends at the end of the year.

LPL Financial LLC is providing members of the nation's sixth-largest credit union with brokerage, trust and wealth management services after signing up Alliant Credit Union, the 35th it has added to its platform this year.

For the second-straight year, LPL plans to raise the fees its reps must pay. The reason? For one, higher insurance costs. The B-D is also cutting some bonuses.