LPL Financial Holdings reported the strongest quarter in the companys nearly three years as a public company, with net revenues topping $1 billion for the first time. LPLs board of directors also announced the companys quarterly dividend would be raised 40% to 19 cents per share.
But the recruiting slump of the countrys largest independent broker-dealer continued in the second quarter, as LPL added only 32 net new advisors for a total of 57 so far this year -- a pace that falls well short of the companys target of adding 400 to 500 new advisors annually.
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