Amid AI threat, LPL reviews reliance on 'cash sweeps'
· americanbanker.com
Brokerages are too dependent on the billions they make every year from clients' uninvested cash, industry analysts say. LPL is responding with a long-term review of its pricing.
While some brokerages seem unconcerned that AI could eat into their hefty profits from managing client cash, LPL Financial is forging ahead with a full-scale re...