This report analyzes registered representative movements between firms during August 2025. LPL Financial LLC emerged as the clear winner with the highest inflows (+442 reps), while First Horizon Advisors experienced the largest outflows (-254 reps).

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2 things to note:

LPL and First Horizon Bank recently announced a strategic relationship to transition First Horizon Advisors’ broker-dealer and advisory services to LPL’s Institution Services platform.

Raymond James accelerated its recruitment drive in August with a series of hires from Commonwealth Financial Network that have brought in teams that collectively managed over $1 billion in client assets at their previous firm.

To read more about recent LPL moves, check out this article from CityWire.