LPL, which filed its notice of its initial public offering on Friday, is now in its “quiet period,” which the Securities and Exchange Commission doesn’t officially define, but typically means the company can’t talk about itself until the stock has had a decent shot of finding its fair value on the market. This silence can last anywhere from 40 days to three months.
That’s a long time to be in the dark if you’re one of LPL’s client banks or an advisor who works at one, but industry observers don’t seem at all worried.
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