LPL Financial attracted more than a hundred advisors providing a bright spot in its first-quarter results.
Assets under custody on LPL Financial’s RIA custody platform, which provides integrated fee- and commission-based capabilities for independent advisors, increased to $27.1 billion, or 74.8% by the end of the first quarter of 2012, up from $15.5 billion in the first quarter of 2011, the company announced Monday. During the first quarter, 115 net new advisors joined LPL Financial, and 554 new advisors joined in the twelve months ending on March 31.
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