Friday, July 17, 2009

 

LPL to pull plug on Pershing clearing platform

Advisers, caught off guard, are apprehensive about future...
In a major retrenchment, LPL Investment Holdings Inc. of Boston is pulling the plug on the Pershing LLC clearing platform used by about 1,700 advisers on three broker-dealers it acquired in 2007, and moving those reps onto LPL's clearing platform...

Investment News: LPL to pull plug on Pershing clearing platform

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