Meanwhile, LPL attracted a five-advisor team managing $380 million in Kansas, while a veteran with stripes from Morgan Stanley, UBS, and Fidelity has joined Prime Capital Financial.
Osaic has also reeled in another LPL team in North Carolina, while Raymond James' FNBO program gains momentum with a $515 million duo in Kansas City, Missouri.
The writing has been on the wall for Shah’s departure since the end of last year, industry executives said.
Survey highlights widespread lack of awareness as families struggle to save for future education costs.
Also, Cetera OSJ Wilde Wealth scoops a new COO from Ashton Thomas, while Texas-based Willis Johnson Wealth names its next CEO as part of a multigenerational succession.
A federal judge will no longer require searches of advisors' personal devices in the recruiting dispute between Ameriprise and LPL Financial as the case moves to a FINRA arbitration hearing set for October.
FNBO-backed recruits and a Boca Raton succession deal highlight continued advisor movement.
A veteran-led trio from UBS has also decamped to LPL's Linsco channel, while Cetera lured another longtime Commonwealth advisor in Michigan.
Firms pick up advisory capacity in Georgia, Missouri with next-gen advisor among the movers.
But competing wealth management firms have been doing their best to recruit away Commonwealth advisors.
Meanwhile, a $350 million UBS group launches their own firm with Sanctuary, while advisor-owned hybrid Ameriflex targets succession continuity with a national single-source platform.
The AI-driven next step in how advisors manage investments may be coming “faster than any of us think,” says Osaic’s Shannon Reid.
Bain Capital has joined Osaic's existing investors Ares and Lexington Partners.
Raymond James is also welcoming a $400M Merrill Lynch duo in Lexington, Kentucky, while RBC adds a $542 million UBS team in the Philadelphia market.
Osaic’s advisors began using the Jump and Zocks AI tools since early 2025.
Moves bring hundreds of millions in assets as firms compete for experienced advisors.
Raymond James is also welcoming a $480M Brooklyn team from Wells Fargo's independent network, while JPMorgan adds a $400M Goldman Sachs advisor in New York.
The combined platform unifies Avantax Planning Partners and The Retirement Planning Group, giving over 100 employee advisors access to in-house specialists across tax, estate planning, and insurance.
Beata Kirr brings 17 years at Bernstein Private Wealth Management and an earlier Goldman Sachs pedigree to her new post overseeing investment strategy for Northern Trust's billion-dollar family office clients.
Stifel CEO Ron Kruszewski says AI can boost advisor productivity and prompt more ideas around tax and estate planning, but “when you move to judgment, which is what our advisors do, it just really isn't that good."
