Advisor moves: LPL scoops $1.8B quintet from UBS

The recruitment momentum shows no signs of flagging at LPL and Raymond James, which have this week notched noteworthy additions from UBS, Ameriprise, and Edward Jones to various areas of their respective advisor networks.

LPL lands $1.8B team from UBS

On Monday, LPL Financial revealed that Decorum Wealth Management, a Sacramento-area practice led by Ronald Ewing, Edward Macha, Alex Pittz, Brian Gudgel, and Andrew Curiel, has launched as an independent firm through LPL’s Strategic Wealth platform.

The group, which previously worked together at UBS, reportedly managed a collective $1.8 billion in client assets and brings more than 80 years of combined industry experience. Their client base spans individuals, business owners and retirees, with a focus on multigenerational relationships.

Macha said the team is “very family-centric” and aims to maintain a personal connection with clients, even as technology becomes more integral to the business.

“In a world where technology prevails, our firm commits to having a service-oriented relationship with clients to ensure that additional personal touch,” he said Monday.

Gudgel added that the team’s approach is built on long-term partnerships, emphasizing trust and transparency as they help clients navigate changing markets and life transitions.

The Decorum team extends the stream of exits from UBS this year, which according to one analysis amounted to a net loss of 111 advisors leaving UBS during the second quarter of of 2025 alone.

LPL has also welcomed The Capitol Bay Group, a Tysons, Virginia-based team led by John Yetman and Manish Mukhi, who join from Ameriprise.

The team, which reported about $375 million in assets at Ameriprise Financial, focuses on holistic planning for high-net-worth clients, business owners and retirees. Mukhi explained that their approach begins with identifying client priorities and developing plans that address both present and future needs.

Raymond James reels in advisors from Edward Jones, Oppenheimer

Elsewhere, Raymond James announced the addition of Ben Johnson, who has opened Johnson Private Wealth in Mooresville, North Carolina, after managing more than $140 million at Edward Jones.

Johnson cited Raymond James’ technology platform and client-first culture as key factors in his decision to join Raymond James Financial Services, the firm's independent advisor division.

“My clients have always been my top priority, and partnering with a firm that provides the technology and culture to enhance both the client and advisor experience is essential,” he said.

Raymond James had just under 5,000 independent contractors within its network by the end of its fiscal fourth quarter in 2024, according to its earnings release covering that period. The firm has been moving to improve on that score this year, adding a former Franklin Templeton leader as the first COO for the division and introducing an in-house recruitment service to help indie advisors expand their support teams.

In Miami, Raymond James also welcomed Miguel Garcia, who joins from Oppenheimer & Co. where he reported approximately $265 million in assets.

Garcia said the firm’s reputation and commitment to empowering advisors with resources and flexibility were central to his decision to hop to the firm's employee advisor channel, Raymond James Associates.

A veteran of the industry, Garcia's 30 years of industry experience includes his first affiliation with Smith Barney.