LPL Sees Big Uptick in Recruited Reps
17:40 17 August
in In the News
August 10, 2016
By Janet Levaux, ThinkAdvisor
A large number of advisors moved to the IBD from Cetera Financial, Advisor Group and other broker-dealers.
LPL Financial (LPLA) dramatically increased its recruiting results in the second quarter, attracting 128 affiliated advisors vs. 59 in the first quarter of 2016.
The greatest number of recruited advisors, 48, join LPL with individual or team practices that have $100 million or more of client assets. Forty advisors have made the move with $50 million to $99 million of client assets, while the remaining 40 reps have from $30 million to $49 million.
“We experienced another strong quarter for recruiting,” said Bill Morrissey, head of business development for the independent broker-dealer,