With fiduciary rule in place, two broker-dealers cut adviser compensation

July 11, 2017 by Bruce Kelly

Two prominent broker-dealers are cutting bonuses and payouts to advisers, in some cases because of the Department of Labor’s new fiduciary rule.

LPL Financial is eliminating a “general securities bonus” applicable to the volume of equities and fixed income securities traded by an adviser, according to two sources who asked not to be named.

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Originally Posted at InvestmentNews on July 11, 2017 by Bruce Kelly.