In response to requests from its affilated advisors, LPL Financial is cutting ticket charges on ETFs and equities by 40% starting January 1.
Bill Dwyer, president and national sales manager of the broker-dealer unit of LPL, made the announcement this morning at the firm's annual conference in Chicago.
He said that LPL had reviewed the request from advisors and found they were justified in requesting the reduction. The charges, which go from $15 to $9 per trade, will put another $6.5 million in the pockets of either advisors or their clients, if advisors choose to pass the savings on.