Prudential Wealth Advisors builds centralized recruiting unit for 2027

Prudential Wealth Advisors is building a centralized recruiting organization that it expects to have in the market in the second half of 2027, president Pat Hynes told InvestmentNews. Recruiting had been handled locally, he said, and centralizing it is meant to speed things up.

The firm is interviewing two people to run the group, and Hynes called executing on the recruiting model for 2027 the year’s main test. “We’re interviewing the two leads for that organization, and so it’s being stood up now — we believe we’ll be in market within the second half of 2027,” he said.

Prudential Wealth Advisors has 3,000 advisors and $44 billion in assets under management, up from $27 billion in 2023, per the report. That is a $17 billion increase, or roughly 63%, and works out to about $14.7 million of assets per advisor on average.

Hynes pointed to LPL Financial as the model. The partnership moved Prudential’s retail brokerage and investment advisory assets to LPL, with integration completed in 2024 and LPL acting as a service provider.

Hynes expects the rebrand from Prudential Advisors to Prudential Wealth Advisors to help on the recruiting side, by supporting the pitch that the firm is a full-service wealth business. He said PGIM has rolled out private equity and private credit on the LPL platform, which he described as the first broker-dealer to offer it.

This publication noted in September that the Sept. 6 registration file paired block-trade team moves with single-advisor moves into Prudential.