November 11, 2014 / 8:16 PM / 3 years ago

ON THE MOVE-LPL adds Louisiana firm managing $520 million in assets

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NEW YORK, Nov 11 (Reuters) - LPL Financial Holdings, the biggest independent broker-dealer in the United States, said on Tuesday it recruited a four-person registered investment adviser group in Louisiana.

LPL is working to gain a foothold in the U.S. South and Gulf Coast region.

The adviser group, Goss Wealth Management, had about $520 million in assets under management as of June 20, according to a statement released by LPL.

LPL provides brokerage, technology, clearing and compliance services to roughly 13,900 brokers. In the past, LPL Chairman and Chief Executive Mark Casady said the firm usually aims to recruit 400 to 500 net new brokers each year.

Reporting by Elizabeth Dilts; additional reporting by Jed Horowitz

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