The independent broker-dealer space has seen hundreds of advisors and billions of dollars in client assets on the move in recent months.
LPL Financial's purchase of the assets of National Planning Holdings
led to 10 different recruiting grabs of $744 million in client assets or more by the No. 1 IBD
and its rivals. LPL acquired at least five National Planning teams with more than $9.8 billion in combined client assets as part of its share of the 15 largest recruiting moves of the year.
On the other hand, LPL also lost five NPH practices, including several offices of supervisory jurisdiction, with $6.8 billion in client assets to rivals after its massive acquisition in August. Separately, Cetera Financial Group and Triad Advisors grabbed three teams from LPL with $18 billion in client assets in other moves that made the list.
LPL made the highest volume of grabs out of the top 15 with six, but Cetera led the way in terms of client assets with moves totaling $13.8 billion. Triad, one of two Ladenburg Thalmann network firms with moves on the list, brought the third most assets onto its platform at $7.4 billion through its three deals.
The ranking stems from firms' recruiting announcements, leaving out moves by firms that do not publicly discuss their moves or issue such notices. Cambridge Investment Research, for example, added nearly $79 million in production this year for its second-best recruiting year ever, according to spokeswoman Cindy Schaus.
However, the No. 8 IBD's policy against discussing particular recruiting grabs "reflects our respect for privacy" in that the firm's executives "do not comment on or report such details on any individual basis," Schaus wrote in an email.
Follow the links for a list of the top wirehouse and breakaway moves
of the year and 15 recruiting trends to watch next year
. To see the top 15 recruiting moves of the year in the IBD space, please click through our slideshow.