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LPL Financial Posts Profit Rise, Drops Bank Holding Plans

Sunday, Feb 16 2014

News Roundup

Written by PFA News

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Independent broker dealer LPL has announced that its fourth quarter profits exceeded expectations by climbing 20% and that it has dropped its plans to become a banking holding company. So reports Reuters.

It decided to drop the plans after assessing the complexity of starting a bank, says Chief Executive Mark Casady.

Read the full article from Reuters.

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