LPL Financial plans to add at least 400 advisors this year as it increases its technology spending 50% as part of a strategy to attract and retain advisors.

“Historically we have added new 500 advisors per year and we plan to add net new advisors of 400 on a going forward basis,” Mark Casady, LPL’s chairman and chief executive officer, said Thursday afternoon during an interview at NASDAQ. “That is part of the mixture of how we will create growth for the company.”

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