LPL Financial

The No. 1 IBD added a practice with $520 million in client assets from rival Cambridge before walking back a new policy that has resulted in departures.

LPL slammed the move by the exiting major issuer to cut off trails for advisors in certain existing contracts.

“High-touch” support, technology and firm culture played a part in career changes for seven advisors.

The practice transitioned in a week in which 15 advisors joined their new firm in three separate moves.

While the No. 1 IBD has retained a significant portion of the hybrid RIA’s advisors, its founder says the firm has major outside recruiting opportunities.

Charged with leading the firm’s recruiting and sales strategy, Scott Posner will report to the recent successor to Bill Morrissey, who left the firm last month.

A team of four women is moving to LPL in pursuit of what they say is a less difficult, lower-fee alternative.

Upon closing, the deal will push Wealth Enhancement’s advisor head count beyond 70 financial planners.

The No. 1 IBD drew in a team composed of both CPAs and advisors.

The four-advisor practice joined the No. 1 IBD after its CEO pledged to transform the company’s culture.