Rising Loan Levels Reflect Big Recruiting Push At Stifel, LPL
February 26, 2020
Louis Diamond Quoted
By Mrinalini Krishna
Big jumps in advisor loans reported by and LPL Financial reflect concentrated recruiting efforts at those shops that can set the tone across the industry, recruiters and company executives say.
The increase in Stifel’s loan numbers is likely a result of the growing number of advisors they are hiring rather, not a signal that the firm is cutting bigger checks per deal, says Louis Diamond, executive vice president and senior consultant with Diamond Consultants.
And he expects the momentum to continue.
“I would probably predict that they will continue to have similar success, which means I’d say a consistent or even a slight increase in how much they outline for transition money because their business model is still in high demand,” he says.