LPL Financial plans to lay off 112 employees nationwide in April, including 97 who work out of its San Diego headquarters, in a move to both reduce costs and position the country's largest independent broker-dealer for greater expansion.

In all, LPL is relocating 157 positions from offices around the country to its expanded offices in Fort Mill, South Carolina, a suburb of Charlotte, North Carolina. Of that total, 112 people will lose their jobs and be replaced by people in the Carolinas. Another 45 people nationwide, including 36 people in San Diego, are being offered the chance to move to Fort Mill.

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