LPL Investment Holdings Inc., parent company of independent broker-dealer LPL Financial LLC, announced today a fourth quarter net loss of $116.6 million, or $1.20 per diluted share versus net income of $18.6 million, or $1.20 a share in the year-earlier period.

The Boston-based company, which went public on November 18, said one-time IPO-related expenses of $241 million contributed to the loss. Adjusted net income, which excludes various non-cash charges, advanced 6.2% to $44.7 million from $42.1 million in last year's fourth quarter.

The bulk of the one-time charges was attributed to compensation expenses associated with stock option awards and other equity-based compensation. Other IPO-related charges came from printing, audit, travel and legal expenses, according to LPL Chief Financial Officer Robert Moore.

Net revenue for the fourth quarter climbed 11.6% to $820 million, up from $734.9 million in the fourth quarter of 2009. For all of 2010, LPL generated $3.1 billion in net revenue, a 13.2% gain over 2009.

Advisory assets in the brokerage firm's fee-based platforms were $93 billion at year-end, an increase of 20.5% from $77.2 billion on December 31, 2009. Total advisory assets reached $315.6 billion last year, up 13% from the previous year.

Moore said LPL added 494 net new advisors in 2010, including 206 advisors who affiliated with the firm as the result of the acquisition of National Retirement Partners in the fourth quarter. He added these results underscore a "thawing of advisors in motion" and a return to more "normalized" recruiting activity.

LPL shares gained 15 cents in early-afternoon trading on Tuesday, to $33.90. The stock was up 13% from its offering price, but down roughly 9% since its all-time high of $37.22 on December 31.