03.19.24

LPL Combines Two Investment Advisory Programs

by: Sam Del Rowe

LPL Financial has combined two of its investment advisory programs. Known as Strategic Asset Management, or SAM, I and II, the programs had different ways of handling transaction fees. In SAM I, clients paid transaction fees for trades, whereas in SAM II the investment advisor representatives covered transaction costs. SAM is no longer a wrap fee program following the consolidation. Wrap fee programs have come under increasing regulatory scrutiny in recent years.

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