LPL Financial's Commonwealth Acquisition: Advisor Attrition Slows Down

LPL Financial's acquisition of Commonwealth Financial Network has resulted in 328 advisors leaving the independent broker/dealer, including a team of 24 who started their own RIA. However, since the deal closed in August, attrition has slowed, with 304 advisors leaving, an attrition rate of 10%. The firm is still on track to retain 90% of its advisors and has onboarded $275 billion in assets from Commonwealth advisors.