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Lpl Financial Llc gained 867 advisors net in twelve months, the most of any registered adviser | DFX Data Factory

Derived metricRIA / Wealthconfidence high

Lpl Financial Llc gained 867 advisors net in twelve months, the most of any registered adviser

computed from facts with a stated formula and window

What happened

Among 829 advisers with 25 or more registered advisors, the largest net gains of registered advisors between 2025-09-20 and 2026-09-20: Lpl Financial Llc +867 (1,818 in, 951 out, 23,319 registered); J.P. Morgan Securities Llc +453 (1,114 in, 661 out, 14,152 registered); Raymond James Financial Services Advisors, Inc +318 (641 in, 323 out, 6,694 registered); Empower Advisory Group, Llc +291 (401 in, 110 out, 1,944 registered); Schwab Wealth Advisory, Inc. +203 (260 in, 57 out, 1,643 registered); Vanguard Advisers, Inc. +166 (283 in, 117 out, 2,422 registered). 30,054 firm-to-firm moves in the year across 6,128 firms.

Why it is notable

A firm adding registered advisors faster than it loses them is where recruiting is working; the count is people who moved between firms, dated by IAPD, not headcount as filed.

When

Occurred: Sep 20, 2026
Window: Sep 20, 2025 to Sep 20, 2026
First detected: Sep 15, 2026, 8:45 AM UTC
Last confirmed: Sep 20, 2026, 7:10 AM UTC

Entities involved

net gainer
LPL FINANCIAL LLC
net gainer
J.P. MORGAN SECURITIES LLC
net gainer
RAYMOND JAMES FINANCIAL SERVICES ADVISORS, INC
net gainer
EMPOWER ADVISORY GROUP, LLC
net gainer
SCHWAB WEALTH ADVISORY, INC.
net gainer
VANGUARD ADVISERS, INC.

What supports it

12 evidence rows

derived
LPL FINANCIAL LLC: joins 1818, departures 951, net 867, 23319 registered advisors, RAUM $819.1B
Form ADVria_pub_firm_flow.crd=6413
derived
J.P. MORGAN SECURITIES LLC: joins 1114, departures 661, net 453, 14152 registered advisors, RAUM $429.7B
Form ADVria_pub_firm_flow.crd=79
derived
RAYMOND JAMES FINANCIAL SERVICES ADVISORS, INC: joins 641, departures 323, net 318, 6694 registered advisors, RAUM $390.0B
Form ADVria_pub_firm_flow.crd=149018
derived
EMPOWER ADVISORY GROUP, LLC: joins 401, departures 110, net 291, 1944 registered advisors, RAUM $195.4B
Form ADVria_pub_firm_flow.crd=112058
derived

Metrics

moves 12m: 30,054
firms ranked: 829

rows

crd	name	state	net 12m	raum usd	joins 12m	joins 90d	firm class	registered	departures 12m	departures 90d
6413	LPL FINANCIAL LLC	SC	867	$819B	1,818	443	BD_AFFILIATED_WEALTH	23,319	951	219
79	J.P. MORGAN SECURITIES LLC	NY	453	$430B

Method and coverage

Detector: RIA_NET_ADVISOR_FLOWS_12M v1
Kind: DERIVED_METRIC: computed from facts with a stated formula and window
Query: select crd, joins_12m, departures_12m, net_12m from ria_pub_firm_flow where iar_count_iapd >= 25 order by net_12m
Coverage: IAPD is a current roster: a person who left the industry is not on it, so moves are counted among today's registrants only (survivorship). BULK_TRANSFER corporate re-registrations, same-CRD re-registrations and departures with no registered destination are not counted as moves. Firms with fewer than 25 registered advisors are not ranked. RAUM is regulatory assets under management as filed on Form ADV; it double counts affiliates and is never a person's book.

by move type

n	move type
5,955	IBD_TO_IBD
3,178	OTHER
3,137	RIA_TO_RIA
2,308	IBD_TO_RIA
1,940	WIREHOUSE_TO_IBD
1,596	RIA_TO_IBD
1,593	WIREHOUSE_TO_WIREHOUSE
1,419	IBD_TO_WIREHOUSE
650	WIREHOUSE_TO_RIA
425	IBD_TO_NEW_FIRM
372	RIA_TO_STATE_RIA
313	RIA_TO_NEW_FIRM
305	IBD_TO_STATE_RIA
191	RIA_TO_WIREHOUSE
128	WIREHOUSE_TO_NEW_FIRM
27	WIREHOUSE_TO_STATE_RIA

Merrill Lynch, Pierce, Fenner & Smith Incorporated lost 951 advisors net in twelve months, the most of any registered adviser