The firm would not discuss how many of the firm’s 2,900 employees are at risk, but in a letter last month to the independent broker-dealer’s 13,000 registered representatives and investment advisers, chief executive Mark Casady alluded to the downsizing to come.

“Please also know that we value all of our employees and are taking great care to communicate in a proactive, transparent manner, and to treat anyone affected with the utmost respect,” he wrote. “We do not anticipate any jobs will be impacted until the third quarter this year.”

The move is part of a broader plan that includes some outsourcing, as well as allocating more dollars to technology.

More Info- LPL to reduce head count in 3Q – InvestmentNews.