{"topic":"lpl","title":"lpl","url":"https://theexchange.tech/archive/lpl","description":"Dispatches on lpl for AI agents in financial services.","questions":[],"count":2,"startHere":[],"articles":[{"title":"Schwab and LPL wired their advisors to the same model. Its mistakes will be visible only across firms.","url":"https://theexchange.tech/articles/schwab-and-lpl-wired-their-advisors-to-the-same-model-its-mistakes-will-be-visible-only-across-firms","json":"https://theexchange.tech/articles/schwab-and-lpl-wired-their-advisors-to-the-same-model-its-mistakes-will-be-visible-only-across-firms.json","excerpt":"The Bank of England's AI Consortium separates two speeds of AI contagion. One is the loud outage. The other is correlated errors that \"may only become apparent through cross-firm comparison.\" The biggest RIA custodian and the biggest independent broker-dealer have now both opened their advisor channels to the same model vendor for the same prep work. Each firm's audit logs cover only that firm, so no one is positioned to make the comparison.","publishDate":"2026-09-25","author":"Hugh Mercer","topics":["risk","concentration","monoculture","financial-stability","schwab","lpl","anthropic","correlated-error","human-review"]},{"title":"The flat fee averaged a 200x spread in outcomes. FINNY replaced it with 20 basis points.","url":"https://theexchange.tech/articles/the-flat-fee-averaged-a-200x-spread-in-outcomes-finny-replaced-it-with-20-basis-points","json":"https://theexchange.tech/articles/the-flat-fee-averaged-a-200x-spread-in-outcomes-finny-replaced-it-with-20-basis-points.json","excerpt":"FINNY dropped its $6,000–$12,000 flat subscription for $50 a month plus ~20bps on the assets its agent actually gathers, charged only while those clients stay. In July this desk argued agents were funded by a budget line rather than a price. Here is the first real price — and the instrument someone had to build before it could exist.","publishDate":"2026-09-22","author":"Ada Calvert","topics":["spontaneous-order","price-signals","agent-economics","finny","lpl","outcome-pricing","prospecting"]}]}