LPL Financial has pulled a roughly $700 million practice away from Cambridge Investment Research Advisors, adding Boise, Idaho-based Sound Foundation Wealth Advisors in the latest round of advisor moves.
In the same stretch, &Partners signed a $728 million New Jersey team and Janney Montgomery Scott recruited a Merrill Lynch veteran in northeastern Pennsylvania.
Sound Foundation – which reported $700 million in advisory, brokerage and retirement plan assets as it serves clients across the country from its Idaho headquarters – will now use both LPL’s broker-dealer and registered investment advisor platforms.
Founding advisors Nathan Downs and Cory Thomas lead the firm, operating along with wealth advisors Seth Church, Cameron Church, Caleb Whalen, Kason Wedel, Dustin Olson and Cory McLeaf, along with six support staff.
The founders set up shared operations so that advisors joining from different parts of the country could work from common processes. Much of the team’s client base is professionals in technology, healthcare and higher education, along with business owners. Instead of placing households into a model based solely on investment risk tolerance, the team writes each client’s plan – which includes estate planning – before choosing investments.
“For a growing firm like ours, having technology and systems that can help us optimize our business and client experience is extremely important,” Downs said.
In August, LPL recruited Conte Wealth Advisors, a longtime Cambridge affiliate that reported $1.4 billion in client assets and 20 advisors near Harrisburg, Pennsylvania.
It hasn't been all exits for Cambridge, however, as it reported adding 189 advisors in the first half of 2026.
&Partners has added Madison Reserve Wealth Management, a Parsippany, New Jersey, practice with $728 million in prehire assets under management.
Cofounders Edwin Andrews, his son Jeff Andrews and John McKenna lead the practice as wealth advisors. The rest of the team is wealth consultant Amy Gelo and senior registered client associates Cheryl Busacco and Chrissy Esposito. Madison Reserve works with clients nearing retirement, retirees and families planning to pass wealth to the next generation.
The three wealth advisors were previously affiliated with Wells Fargo Advisors, according to their BrokerCheck records.
Madison Reserve is the 133rd practice to join &Partners and the 10th in a little over two months.
The St. Louis-based firm, which has been growing steadily even after breaching its self-imposed target of 100 partner practices in September last year, reported about $67 billion in assets at the end of October.
Janney has hired Ryan McGee for its Scranton, Pennsylvania office.
McGee managed approximately $280 million in client assets at Merrill Lynch and joins Janney as senior vice president/wealth management. He spent nearly two decades at Merrill, where he was a senior vice president and senior financial advisor.
Joined by senior private client associate Jennifer Varzaly, McGee has close to 30 years in the business. His practice focuses on retirement planning, investment management and retirement income strategies.
In February, Janney opened an office in Middletown, Delaware built around Warren-Fantano Wealth Management, a Merrill Lynch breakaway team managing more than $1 billion.
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