A group of advisors affiliated with LPL Financial has launched an RIA that will share all profits with its partnering advisors.
Good Life Advisor Systems formed the "mutual RIA" to "distribute the proceeds of our model, after expense, to advisors, not only to principals," Conor Delaney, a co-founder of the firm, said.
"A principal or two principals might own a company that includes, say, 400 advisors, and the [bulk of the] profits would go to these two owners," explained Delaney. "In our model, the profits would be distributed to the advisors. It's very unique and not done often in the industry."
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Janet Levaux
Janet Levaux, MA/MBA, is Editor in Chief of ThinkAdvisor & Investment Advisor. She's covered the financial markets since 1991 and advisors since 2005. Janet studied at Yale, Johns Hopkins SAIS and St. Mary's College of California. She's also lived and worked in Asia, Europe and Latin America, raised two sons, and won a Neal Award for top news coverage in 2020.
