Independent broker/dealer LPL Financial announced that a network of 40 advisor teams will join its ranks, a sign that recruiting is picking up for the firm. Scottsdale, Ariz.-based Householder Group, which has $1.2 billion in private client and retirement plan assets, joins from Securities Service Network.
CEO Scott Householder founded the firm in 1997, with a focus on mass affluent and high-net-worth private clients. The firm specializes in retirement and estate planning. A typical client has $500,000 or more in investable assets.
While Householder has a strong presence on the West Coast, the firm has expanded into the south and southeastern parts of the country. The firm hopes to add 50 new offices in 2014 by expanding into the Northeast, in particular.
LPL’s recruiting was down in the first half of the year, adding only 57 advisors over that period. But the firm netted 154 new advisors during the third quarter, bringing headcount to 13,563, up 3 percent from a year ago.