LPL and Wells Fargo are closing September on a high note with separate billion-dollar team additions.
Meanwhile, Raymond James is continuing its Commonwealth recruitment streak, and Baird extended its Virginia presence with a veteran advisor from Edelman coming into the fold.
LPL has expanded its advisor network with the addition of Lighthouse Private Wealth, a newly formed practice led by DJ Totland and Christopher Meyer, supported by Rob Tendler and the Harbor Lights Financial Group.
The team, based in Red Bank, New Jersey, reported approximately $1.1 billion in advisory, brokerage, and retirement plan assets at RBC before moving to LPL’s broker-dealer and RIA platform.
Totland, Meyer, and Tendler collectively have 90 years of industry experience and have worked together for two decades. Their client base includes high-net-worth individuals, business owners, and families, and their practice emphasizes a holistic approach to financial planning.
Totland said he and Meyer “collaborate on all client meetings and work in tandem,” describing this as a key differentiator for their team. “Having two minds approach issues is our differentiator as we can complement each other,” he said.
The team cited LPL’s technology and the desire for greater autonomy as central to their decision. Meyer noted that LPL’s platform allows them to “customize and use specific technology in an ‘a la carte’ fashion,” and emphasized the importance of becoming business owners after years at larger firms.
LPL Financial now supports more than 29,000 advisors and works with over 1,100 financial institutions, with a total of $1.9 trillion in assets under custody and management.
Raymond James is accelerating its recruitment of advisors from Commonwealth Financial Network, announcing two teams joining in as many days with a combined $681 million in reported client assets.
In Connecticut, Capital Wealth Management – led by Tom Hine, Jordan Hickey, Kelsey Conklin, and Michael Nicoletti – joined Raymond James Financial Services after managing $411 million at Commonwealth. The group operates offices in Glastonbury and Wilton, specializing in serving families, retirees, and women investors.
Hine said the move was “a natural progression for our team, given the strong alignment in culture and long-term vision.” He also pointed to Raymond James’ “advanced technology platform” and acquisition planning resources as factors in the decision.
Meanwhile, in Brentwood, Tennessee, Radnor Wealth Management – composed of Mark Richards, Barbara Richards, and Jamie “Ledon” Lange – joined RJFS from Commonwealth with approximately $270 million in assets. The team, which includes three generations of the Richards family, provides holistic planning for families, business owners, and retirees.
Mark Richards said what stood out about Raymond James was “how the firm’s culture puts the client relationship at the center of everything,” adding that the firm’s resources will help him continue building long-term strategies for clients.
These latest moves underscore a trend of Commonwealth advisors seeking new opportunities following its multibillion-dollar acquisition by LPL. While LPL had a chance of hitting its lofty 90% advisor retention target from that deal as of August, the stream of additions to RJFS from Commonwealth over the summer and continuing into fall is hard to ignore.
Turning to the wirehouse space, Wells Fargo Advisors has bolstered its ranks with the addition of four experienced financial professionals – Brian Whitney, Edward Guerin, Shaun Rowles, and Dewey Buhr – who collectively bring close to $1 billion in assets under management.
Whitney and Buhr joined the Private Client Group from UBS, with Whitney based in Westwood, California, and Buhr in Sioux Falls, South Dakota. Whitney manages over $400 million in assets, while Buhr’s book is valued at nearly $130 million.
Rowles, also from UBS, joined the Wealth Brokerage Services division in Nashville, Tennessee, with $218 million in assets and is accompanied by his son, Landon Rowles, as client associate.
Guerin, who previously worked at JPMorgan, is based in Oakhurst, New Jersey, and oversees $235 million in assets.
Wells Fargo said the new hires reflect its ongoing efforts to attract experienced advisors with established client bases.
Baird has opened a new office in Alexandria, Virginia, and added veteran advisor Sean Wintz as director and financial advisor. Wintz, who managed $286 million in assets at Edelman Financial Engines, brings nearly 30 years of industry experience to Baird’s growing wealth management footprint in the state. He will be supported by client assistant Uesa Robinson.
Brian Kurtz, market director at Baird, said the firm is “thrilled to welcome Sean, an exceptional industry veteran who shares our deep commitment and dedication to the local Virginia community.”
The Alexandria office is Baird’s fourth in Virginia, joining locations in Fairfax, Lynchburg, and Richmond.
Baird’s private wealth management business includes nearly 1,400 advisors nationwide, with more than $330 billion in client assets as of the end of 2024.
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