LPL sees demand for yield products amid down market

October 31, 2022 by Bruce Kelly

LPL Financial Holdings Inc. saw financial advisers and their clients turn to commission-based products that promise yield, including fixed income, annuities and alternative investments, in recent months as equities struggled and anxiety about a U.S. recession permeate the market.

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Wink’s note: LPL Financial has been selling more annuities.
InvestmentNews report, “The increase in commission revenue speaks to the impact of the market downturn this year; fee revenue at independent broker-dealers like LPL has been climbing for years.”
That’s significant. – sjm

Originally Posted at InvestmentNews on October 28, 2022 by Bruce Kelly.