It’s rare for $1.1 trillion brokerage LPL Financial to cut ties with any of the financial advisers it works with. But after a TikTok video accusing one of its affiliates of saying she wouldn’t hire Black employees went viral, LPL did just that.
“After reviewing the facts, it was a violation of our policies,” LPL CEO Dan Arnold tells Fortune about the matter. “It’s infrequent” for LPL to terminate its adviser relationships for any reason, he said.
