For years, LPL Financial has been on a tear, acquiring rivals, boosting headcount, and adding gobs of assets. The stock price kept rising as the company extended its reach.
But recently the company has been hit by a barrage of bad news. On Oct. 1, the company terminated long-serving CEO Dan Arnold for alleged misconduct. Investors are suing LPL over low interest rates on cash sweep accounts. And in a completely separate matter, rival Ameriprise Financial is suing LPL over the company’s recruiting tactics.
But…
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