As reported by AdvisorHub, LPL Financial is tightening its timeline for outside recruiters to receive credit for referring candidates. Recruiters now have nine months, instead of the industry standard of one year, to gain exclusive credit for a successful referral.

According to sources familiar with the policy change, the new nine-month window encourages recruiters to expedite the hiring process. After this period, another recruiter can re-introduce the candidate to LPL and claim the credit. The shift aims to prevent recruiters from "hoarding" candidates and to foster more proactive efforts.

AdvisorHub characterizes LPL's recruitment efforts as being aggressive, bolstering its workforce of nearly 28,000 advisors through hiring and dealmaking. Recent regulatory filings reveal that LPL's transition loan amortization—a metric reflecting upfront recruiting loan forgiveness—rose to $69.1 million in the third quarter, marking a 29 percent increase year-over-year.

Financial Advisor Transitions consults advisors nationwide to explore employment transition options and to preserve and protect their practice in any transition that they make.