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1. LPL’s massive acquisition touches off a recruiting fight
LPL Financial’s purchase of the assets of National Planning Holdings’ four broker-dealers will shape the IBD space for years to come.

The deal could push LPL’s headcount above each of the four wirehouses, but it has also cleared the way for rivals to the No. 1 IBD to make inroads among the group of 3,200 advisors. Other firms have added at least 274 advisors with $11.5 billion in clients assets from NPH since the Aug. 15 acquisition.

LPL has planned the transition of NPH’s assets and advisors to its platform in two waves, with the first one slated for early next month and the second scheduled for February. Meanwhile, at least one of the firm’s competitors, Commonwealth Financial Network, has predicted record recruiting results for the year.

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