LPL Scoops Up $700M Wedbush Team in Texas, Osaic and Raymond James Make Moves in Advisor Recruitment

LPL Financial has recruited a $700 million team from Wedbush in Texas, while Osaic has expanded its network with a former TrustFirst team in Knoxville, Tennessee. Raymond James has also scored another win in its recruitment efforts, with a former Commonwealth advisor joining the firm. The moves highlight the ongoing competition among financial services firms for top talent and resources.

In a competitive landscape, major financial services firms are actively recruiting top talent and assets to bolster their client bases and market presence. LPL Financial, Raymond James, and Osaic have recently made notable moves to expand their networks and enhance their offerings.

LPL Financial's Acquisition

LPL Financial has announced the recruitment of a six-advisor team from Skyward Financial, which managed approximately $700 million in assets. The team, led by Matthew Houston, Lynn Houston, and Ross Stripling, includes advisors with over 200 years of combined experience. The move is driven by LPL's robust technology platform, which Skyward Financial believes will better serve their younger client base [1].

Raymond James' Strategic Recruitment

Raymond James has also made significant strides in recruiting top talent. The firm has welcomed a team from Commonwealth Financial Network, including Charlene Dolan, Danielle Holmes, and John MacDonald, who managed over $120 million in assets. The team, known as Linden Financial Group, specializes in comprehensive financial planning and investment management. Raymond James' advanced technology and high-net-worth expertise were key factors in the team's decision to join the firm [3].

Osaic's Network Expansion

Osaic has expanded its network by recruiting a team from TrustFirst in Knoxville, Tennessee. The details of this acquisition are not as publicly disclosed as the others, but it is clear that Osaic is seeking to grow its client base and asset management capabilities by leveraging the expertise of the TrustFirst team.

These moves underscore the ongoing competition among financial services firms for top talent and resources. As firms seek to offer more advanced technology and specialized services, the recruitment of experienced advisors becomes increasingly critical. By attracting these teams, LPL Financial, Raymond James, and Osaic are positioning themselves to better serve their clients and maintain a competitive edge in the market.

References

[1] https://www.investing.com/news/company-news/skyward-financial-advisors-with-700-million-in-assets-join-lpl-93CH-4210961
[2] https://www.fa-mag.com/news/commonwealth-advisor-team-managing--300m-in-assets-joins-raymond-james-83717.html?section=3
[3] https://www.marketscreener.com/news/raymond-james-welcomes-massachusetts-advisors-managing-over-120-million-in-assets-ce7c51d2d18af327