There have been reports of advisors leaving, as well as a race among competitors for the industry talent that went up for grabs.
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The firm is highlighting its potential advantages for advisors who might be on the fence about going to LPL Financial.
The move would increase its advisor workforce by 2%, outpacing the industry average growth rate of 0.3%.
While LPL traditionally marketed to advisors, the new effort aims to make its name more recognizable to everyday investors.
Shares of the country’s largest independent broker-dealer surged 13% over the past week.
Commonwealth advisors are now hot ticket items, and some are being offered lucrative deals from competitors.