Advisor movement stayed active in December, reinforcing a pattern we have seen all year. Advisor transitions are no longer seasonal. They are constant.

Even as year end approached, firms continued to attract and lose advisors at meaningful levels. As outlined in the Advisor Movement Trends Report 2025, what was once a cyclical event has become a year round reshuffling of the advisor landscape.

Below is a snapshot of the firms with the largest advisor inflows, outflows, and net changes based on advisor moves tracked in December 2025.

Data reflects updates as of January 26, 2026.

Top 10 Firms by Advisor Inflows December 2025

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Several large platforms led the month in inbound advisor movement. LPL Financial once again ranked first by inflows with 197, followed by Berthel Fisher & Company Financial Services at 147 and BFC Planning at 131. Wells Fargo Clearing Services and J.P. Morgan Securities also posted strong inflow totals, reinforcing continued recruiting momentum across both independent and wirehouse affiliated platforms.

The updated rankings highlight how recruiting activity continues to concentrate among firms investing aggressively in advisor acquisition and transition support.

For a broader view of how these patterns are evolving heading into 2026, see the U.S. Wealth Advisor Movement Report 2026.

Top Firms by Net Advisor Inflows December 2025

Net inflow data adds important context because it captures which firms are gaining advisors after accounting for departures.

Top net inflows for December were driven by firms that paired strong recruiting with minimal outflows:

• Berthel Fisher & Company Financial Services, Inc. plus 145
• BFC Planning, Inc. plus 130
• Wells Fargo Clearing Services, LLC plus 52
• LPL Financial LLC plus 47
• Wealth Enhancement Advisory Services, LLC plus 34

Berthel Fisher and BFC Planning stand out for combining high inflow volumes with extremely low outflows, resulting in the strongest net gains of the month. LPL Financial again illustrates the scale effect, leading in gross inflows while also experiencing elevated outflows that compress net growth.

For month over month comparison, see Advisor Moves November 2025.

Top 10 Firms by Advisor Outflows December 2025

Outflow volume in December was led by Moloney Securities Co., Inc. and LPL Financial LLC, each recording 150 advisor departures. Osaic Wealth, Fidelity Brokerage Services, and Commonwealth Financial Network also appeared among the firms with the highest outflow totals.

Outflows alone do not tell the full story, but they remain a useful early signal for identifying platforms facing competitive pressure, internal change, or advisor dissatisfaction.

Top Firms by Net Advisor Outflows December 2025

When isolating net losses, a different group of firms rises to the top. These firms experienced the largest advisor losses after accounting for inflows:

• Moloney Securities Co., Inc. net minus 150
• Fidelity Brokerage Services LLC net minus 64
• Commonwealth Financial Network net minus 57
• UBS Financial Services Inc. net minus 43
• Edward Jones net minus 37

Several firms on this list recorded minimal or zero inflows, which made the net losses especially pronounced. Others, including UBS, still posted inbound movement but were outweighed by departures.

Note: Moloney Securities activity should be interpreted with caution. There is no publicly confirmed M&A at this time, and elevated advisor movement may be driven by internal restructuring or platform level changes rather than a completed transaction.

What December Advisor Moves Reveal

December reinforces a core takeaway from 2025. Advisor movement never truly slows.

Even in months historically viewed as quieter, transitions continue to reshape territories, coverage strategies, and targeting priorities. For distribution and marketing teams, this creates growing risk. Static lists age quickly, and outdated assumptions can lead to missed opportunities.

Stay Ahead of Advisor Movement

Advisor transitions reshape territories, segmentation strategies, and outreach priorities in real time. Teams relying on periodic updates or one off lists risk falling behind as these changes unfold.

AdvizorPro helps you track advisor moves, firm affiliations, and industry shifts as they happen so your team can act on change while it is still actionable.

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