LPL Financial says it has added 500 net new advisors for the second year in a row.
The company, which its chief executive Mark Casady calls an "outsourcing agent" for financial advisors, now has nearly 13,000 affiliates.
LPL provides an integrated platform of technology, brokerage and investment advisory services to independent financial advisors and financial advisors at regional and community banks and credit unions across the country.
When it went public in November of last year, LPL set a goal of adding roughly 400 net new advisors a year, Casady noted.
Last year it achieved that by adding 288 advisors organically and 206 from the December acquisition of National Retirement Partners. That brought the yearend total to 12,444.
In a presentation Wednesday at the Nasdaq OMX Investor Program held in London in conjunction with Morgan Stanley, Casady said the company had added more than 500 net new advisors in 2011.
That was through the end of September, suggesting that the firm may already have crossed the 13,000 mark, in its universe of advisors. It had 7,006 advisors at the end of 2006.
