LPL Financial

And now they want to leverage that whole Vanguard large brand and reach of investors.

What is the tech exactly that Altruist brings to the table? What is the tech and the AI that Altruist has that makes it such a whiz-bang offering? I mean, all these big firms, Morgan Stanley, LPL, they all like to sing the praises, right, of their AI and what it can do for advisors and for advisors' clients and the like.

But what stands out for advisors about Altruist and why would Vanguard want it so much? $4 billion.

I mean, that's a lot of money.

with this new whiz-bang tax planning program.

They made this announcement.

And then you saw shares of companies like LPL take a huge hit, right, for that day and for that week in the market back in February.

Yeah, and it was cool to see this fintech that's really known in our advisor space suddenly really get attention on a national media stage

If you want to weigh in, we'll get more of those.

And, again, our high school football game of the week, Metro Schools game of the week, is presented by LPL Financial.

and Patrick Conger.

It's Maplewood against Hillsborough, and then you'll get the game blitz tonight.

And hopefully Dr. What's the game of the week? The

Metro High School Game of the Week, which is presented by LPL Financial and Patrick Conger, is Maplewood and Hillsboro.

Oh, okay.

So that'll be a good one.

and what they'll tell advisors sometimes they'll be like well they've adjusted your ebitda wrong in there and so they're overpaying on ebitda and you're not going to get money on the back end or they're going to say the stock price that they have is inflated it's not really true and like you know if you're by yourself it's hard enough navigating selling your own home by yourself Selling a business where you have all sorts of nuances in the deal, the structure, calculations, ongoing compensation, retirement plans, potential staff stock.

Like if you've never done this before, you're basically saying hey i think i can build a new world trade center even though i've never done it i really think i can do it but i can't so what i'm seeing every day is i'm seeing companies that are really taking advantage of advisors in fact the other day i had somebody that said you know ted we really want to use you but i think we're just trying to negotiate our own deal first with lpl and then and then we'll then we'll think about maybe we'll use you if it doesn't work out and i'm like Well, of course, it's not going to work out, but you won't know whether it will or won't.

That doesn't mean LPL deals are bad, by the way.

It just means that, you know, some of those deals like that don't even include stock or there's different nuances to it.

Like, how can you compare something if you have nothing to compare it to?

I think it's always been, in Korea, one of the reasons why we have rosters stay together more than other teams and why we have so many legacy rosters and teams that are so good is because... you can't just buy someone in the middle of out of the middle, like out of the blue, basically is what I'm saying.

And just toss them into a roster and patch a hole or fix something or call some, like, like for example, in the LPL, the problems they have in the LPL where people like step down and then like suddenly reappear.

Uh, what if like, I don't know, someone's having a door and is having a rough time and he's just like, let's mutually disagree because, uh, Kana also just like quit and we're going to do this whole thing where we suddenly get Kana in and like, it just means like there's players can try to like keep quitting and then getting slotted into other teams all the time.

And I personally think that's bad.

Individual tax and legal matters should be discussed with your tax or legal professional.

Securities and advisory services offered through LPL Financial, a registered investment advisor.

Member FINRA, SIPC.

Since 1928, September is the only month in which the S&P 500 has finished lower and more often than higher, according to Mr. Rubner of Citadel.

These patterns are worth watching, analysts at LPL Financial wrote in a recent research note.

When a behavioral tendency persists across decades, it can offer a useful sense of the prevailing wind.

You are listening to a reading of articles and features from the New York Times and the Niagara Frontier Radio Reading Service.