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

Why the off-channel comms problem is far from solved
Why the off-channel comms problem is far from solved

Despite a lighter regulatory outlook and staffing disruptions at the SEC, one compliance expert says RIA firms shouldn't expect a "free pass."

FINRA penalizes another broker dealer for social media miscues
FINRA penalizes another broker dealer for social media miscues

FINRA has been focused on firms and their use of social media for several years.

Advisor moves: LPL recruits Merrill alum, Raymond James adds defectors from Edward Jones and Janney
Advisor moves: LPL recruits Merrill alum, Raymond James adds defectors from Edward Jones and Janney

RayJay's latest additions bolster its independent advisor channel's presence across Pennsylvania, Florida, and Washington.

Cantor Fitzgerald to acquire hedge fund unit from UBS
Cantor Fitzgerald to acquire hedge fund unit from UBS

The deal ending more than 30 years of ownership by the Swiss bank includes six investment strategies representing more than $11 billion in AUM.

Navigating life’s big transitions for women clients
Navigating life’s big transitions for women clients

Divorce, widowhood, and retirement are events when financial advisors may provide stability and guidance.

SPONSORED Beyond the dashboard: Making wealth tech human

How intelliflo aims to solve advisors' top tech headaches—without sacrificing the personal touch clients crave

SPONSORED The evolution of private credit

From direct lending to asset-based finance to commercial real estate debt.