LPL Financial broke out of its recruiting slump in the third quarter, adding 154 net new advisors -- nearly five times as many as the previous quarter.

In addition, net new advisory assets for the country’s largest independent broker-dealer rose to a record $4 billion, sparked by increased advisor productivity. Annualized commissions per advisor improved to $156,000 from $134,000 in the year-ago quarter, and advisory and brokerage assets exceeded $400 billion as of the end of the quarter, helping the firm record net revenue of $1.1 billion.

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