LPL on a recruiting roll — but at a price

LPL on a recruiting roll — but at a price
Hiring expenses rose as indie B-D attracted 408 net new advisers in past year; 'elevating our expectation'
APR 19, 2012
LPL Financial LLC continues to be the behemoth of recruiting in the independent broker-dealer industry. But expenses involved in bringing in new brokers have increased. In the first three months of the year, 115 net new advisers joined LPL Financial, the chief subsidiary of LPL Investment Holdings Inc. Over the past 12 months, LPL Financial had 408 net new advisers join the firm, including the attrition of 146 former Uvest Financial Services Inc. advisers who left last year when those brokers were moved to LPL's platform. Not counting the Uvest departures, LPL Financial added 554 net new advisers. RELATED ITEM Recent recruiting wins for LPL

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