Moody’s cites revenue concerns on three large IBDs
LPL, Cetera and Advisor Group are bellwethers for the independent broker-dealer industry
The double whammy of the broad sell-off in stocks and sharp declines in interest rates led Moody's Investors Service Inc. to revise or cut its outlooks and ratings last week for three of the largest networks of independent broker-dealers: LPL Financial, Advisor Group and Cetera Financial Group.
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