Masters in Business · Friday, October 30, 2026
Steinmeier highlights LPL's low advisor attrition rate of 1.5% compared to the industry average of 5%. He emphasizes that contracts are not restrictive and that the firm focuses entirely on earning advisors' business daily.
“The industry runs about a 5% attrition rate for advisors, brokers, anybody on the advice side. You guys are running a fraction of that, 1.5%.”
“So on any day we can be fired. And unlike other firms who say, if you choose to leave this firm, we're going to try to take your clients. We help them when they leave.”