As the integration phase of LPL's industry-shaking acquisition of Commonwealth Financial Network kicks into gear, Cetera and Raymond James have added defectors from the two firms to their own ranks, with Cetera welcoming a 12-person team in Virginia.
Cetera Financial Group has added Susan Wilkinson and her 12-person team at Wilkinson Wealth Management, a group that previously managed approximately $380 million in assets under administration at LPL’s Private Advisor Group.
The Charlottesville, Virginia-based team joins Summit Financial Networks, one of Cetera’s advisor communities, after more than 17 years with LPL.
Wilkinson cited Cetera’s “white-glove service” and the support from its regional growth teams as key factors in the move.
“Our culture is one of excellence, and in my opinion, excellence is the culmination of a lot of small things done perfectly,” Wilkinson said in a Tuesday statement announcing the move. She added that a face-to-face meeting with Summit was “the turning point,” making it clear that Cetera’s culture aligned with her team’s values.
Wilkinson, a 29-year industry veteran, founded her eponymous firm 17 years ago. Prior to LPL, her BrokerCheck record shows she started her career in the wirehouse world, first at Morgan Stanley then at Citi.
She has focused her practice on comprehensive financial planning, including estate and tax planning. The team’s proprietary planning process is designed to offer clients consistency of service, and clients also have access to a full-time investment analyst for advice.
Cetera Advisor Channel leader Tom Halloran described Wilkinson as a “hard-working financial advisor and business owner who has created a phenomenal practice filled with great people,” and said her philosophy of “growing by getting better, not just bigger” fits with Cetera’s approach.
This latest addition follows a string of recent moves to Cetera’s platform. Earlier this year, it added Corporate Plans Retirement Strategies, a group managing $250 million who was previously with Equity Services.
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Meanwhile, Raymond James Financial Services has recruited Private Wealth Consultants, a Fort Myers, Florida-based team led by Leo Boisvert and Erik Heben, who managed about $210 million in client assets at Commonwealth Financial Network.
The group, which includes client services manager Paula Heben and client service associate Dawn Mannina-Sanford, specializes in holistic financial planning for a broad client base, including business owners and retirees.
Boisvert – whose 32-year career as a registered broker includes previous stints at UBS and Raymond James & Associates, RayJay's employee advisor arm – said the move was about “coming home to the values of independence, integrity and client emphasis that first drew me to the profession.” He added that Raymond James “upholds these values,” and that it was clear this was where he wanted to build the final chapter of his career.
The addition of Boisvert and Heben follows a series of recent advisor moves at Raymond James. In late July, the firm won over an experienced advisor duo from Wells Fargo in Illinois and welcomed Jonathan Israel, an advisor managing over $400 million in California, and a $314 million team in Jacksonville, Florida.
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