LPL Financial posted a decline in hiring as recruiting assets slipped 8 percent to $82 billion in 2022. 

LPL added advisors who managed nearly $1.5 billion in the last quarter of 2022, a 5 percent decrease from the previous quarter of 2021. Chief Executive Officer Dan Arnold told AdvisorHub that recruiting has been slow since 2020 due to the pandemic and market volatility. 

On the other hand, advisor headcount at LPL rose by 1,399. LPL has been one of the more aggressive recruiters extending significantly incentivized offers to new hires. Arnold noted that LPL's competitors also are becoming more aggressive, particularly in transition assistance, as the pool of eligible talent shrinks. 

Financial Advisor Transitions consults advisors nationwide to explore employment transition options and to preserve and protect their practice in any transition that they make.