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

Latest News

Advisor moves: Atlas tops $1B as Wells Fargo, UBS add bank veterans
Advisor moves: Atlas tops $1B as Wells Fargo, UBS add bank veterans

Wells Fargo adds two bank-channel recruits, UBS lands a JPMorgan Chase veteran, and a multi-family office lifts Atlas past $1B

Advisor mom’s son used her password to log into clients’ accounts, sell deal with conflicts, according to Washington state
Advisor mom’s son used her password to log into clients’ accounts, sell deal with conflicts, according to Washington state

“The state comes down on you in years when you make 40% returns for clients,” said Bill Swayne, the advisor and son of Candace Swayne.

Osaic in talks with Anthropic as AI reshapes advisor workforce
Osaic in talks with Anthropic as AI reshapes advisor workforce

The Independent broker-dealer giant has had “active conversations” with the Claude maker, which is days away from its expected IPO

The retirement milestone advisors aren't tracking
The retirement milestone advisors aren't tracking

For Gen X clients entering life after work, answering the financial question isn't enough to solve the entire retirement equation.

Wealthtech firms target stock pay, pensions and heirs for advisors
Wealthtech firms target stock pay, pensions and heirs for advisors

Tools from Grantd, Income Lab and Healthspan Wealth aim to keep RIAs involved in clients’ biggest money decisions

SPONSORED Best Practices for Engaging Women Around Alternatives

Growing wealth, evolving priorities, and untapped opportunities are reshaping how women approach long-term investing.

SPONSORED Built on insurance experience to deliver on long-term promises

Knighthead Life entered the market with a competitive MYGA. A strong launch earned advisor confidence and paved the way for FIAs.