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TheStreet Open House

LPL Financial Holdings' CEO Discusses Q2 2012 Results - Earnings Call Transcript

We does not change with shifting market conditions as the need for and value of financial advice, these macro issues and a company investor sentiment are not unique to today. We have great confidence and the relationships our advisors have with their clients and their relationships with us. With investor sentiment does improve we are well positioned to resume our trajectory of strong growth and margin expansion.

We know our independent and dedicated business model delivers differentiated value proposition that attracts advisors. This quarter advisor production retention was in excess of 97% and we generated net new advisor growth of 223 advisors and 671 net new advisors over the past four quarters. We continue to see the pipeline filled with advisors from all channels and in particular from the wire houses and independent.

Our investments in the high network space, the RIA market and retirement platform have supplemented our strong ongoing success in attracting new advisors. As we do not control the advisors in motion at any time in the marketplace and important measure I track is our net new advisor growth relative to our competitors. The expectation I set for our company is to be in the top three each and every year. We were number two in 2010 and 2011, and I see us on similar trajectory to-date in 2012.

I’d like to provide a brief update on our management structure. Over the past year we have evaluated the next several years of challenges and opportunities for the business and start to align the needs of the company with the capabilities and diversity of our leadership team.

Read the rest of this transcript for free on seekingalpha.com

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