Wealth management firms stepped up recruitment activity over the past week with LPL Financial, Raymond James, and Wells Fargo Advisors Financial Network all announcing new advisor additions and practice moves spanning several regions and more than $1bn in combined client assets.
At LPL, advisors Stephen Horvath, Brady Doe, and David Hermann have united to form Consilium Wealth in Tucson, Arizona. Horvath and Doe were previously with Cambridge Investment, while Hermann was with First Heartland Capital.
The trio managed more than $250 million at their previous firms and have a combined 60+ years of industry experience.
Raymond James also reported a recruitment win in Greenville, South Carolina, adding financial advisor Jerry Knight. Knight also joins from LPL Financial and manages approximately $168m in client assets, reinforcing Raymond James’ expansion strategy in the Southeast.
Meanwhile, Wells Fargo Advisors Financial Network continued its own recruiting push during its milestone 25th anniversary year, bringing in three practices in three days last week with more than $1.2bn in combined assets under management.
Laurel Financial Group — comprising Wesley Nicholson, Michael Allen and Guy Filewich — affiliated from Commonwealth in Pittsburgh. The advisors were joined by Eve Greco, Ben Nicholson, Meredith Steinhagen and Bridget Ellis. The team oversees more than $170m in client assets.
Frederick Grand and Thomas Nieto moved their Financial Architect Advisors practice from UBS in Newport Beach, California. Joined by Laura Holland, the group manages close to $690m.
And Mark Kopkin and Scott Englehardt of Kopkin + Englehardt Wealth Advisory Group joining from Stifel in Alpharetta, Georgia. Supported by Yolanda Etchison, the team oversees approximately $375m.
Chicago-based Mesirow Fiduciary Solutions adds flexPATH's plan-level outsourced fiduciary book, boosting its retirement market reach to $164 billion.
Also, Raymond James's employee advisor channel adds breakaways from Wells Fargo and Stifel, while UBS welcomes an ex-Morgan Stanley duo in Indiana.
It promised guaranteed principal and 10% monthly returns. The SEC says it invested nothing.
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