LPL, Fifth Third, and Raymond James see advisor moves, with LPL gaining a $715M team from Cetera, Fifth Third's RIA arm adding a former BNY trio, and a hybrid RIA opening a new location in North Carolina.

LPL Financial has welcomed a $715 million team from Cetera's Avantax community, while Fifth Third's RIA arm adds a former billion-dollar BNY trio in Boulder, Colorado. A hybrid RIA also opens a new North Carolina location with a former Raymond James-affiliated team. The moves reflect the recruitment strategies of these firms.

LPL Financial and Fifth Third Wealth Advisors have recently expanded their platforms with strategic hires, reflecting their ongoing recruitment strategies. LPL Financial has welcomed Concentric Wealth Management, a Cincinnati-based team led by Patrick Burke and Matt Tarka, to its platform [1]. The team, previously associated with Avantax by Cetera, manages approximately $715 million in advisory, brokerage, and retirement plan assets [1]. Concentric Wealth Management, which began as an accounting firm over four decades ago, now serves a broad spectrum of clients, including business owners, retirees, and other professional service providers [1].

Fifth Third Wealth Advisors, the multi-custodial RIA arm of Fifth Third Bank, has also expanded its presence in Denver, Colorado, with the addition of a team that previously managed $1 billion in client assets [2]. The group includes Stephen Starzec, Scott Ulaszek, and Sarah Williamson, who were most recently with BNY [2]. The new hires are expected to enhance Fifth Third’s ability to deliver tailored wealth management solutions to clients in the region [2].

Additionally, a hybrid RIA, Davenport & Company, has established a new branch in Durham, North Carolina, with the addition of the Kelly Wealth Management Group [2]. Advisors Ryan Kelly and Nikolas Pry, along with client service associates Mary Czysz and Kristan Meister, have joined the firm [2]. Kelly Wealth Management was previously affiliated with Raymond James Financial Services [2].

These strategic hires reflect the ongoing efforts of these financial firms to expand their reach, enhance their service offerings, and attract top talent. By welcoming these experienced teams, LPL Financial and Fifth Third Wealth Advisors aim to strengthen their positions in the wealth management industry.

References:
[1] https://www.stocktitan.net/news/LPLA/lpl-financial-welcomes-concentric-wealth-p4oour3fwtmc.html
[2] https://www.investmentnews.com/independent-broker-dealers/advisor-moves-lpl-nabs-715m-team-from-ceteras-avantax-community/261886