Meanwhile, LPL lured a 37-year industry veteran from Raymond James in Alabama, and Bank of America hauled new hires from Wells Fargo, UBS, and Edward Jones.
The broker-dealer giant topped analyst forecasts on the strength of advisor expansion, fee-based asset growth, and capital markets performance.
Raymond James and Osaic have also recruited more Commonwealth defectors in Illinois, Pennsylvania, Colorado, and Florida.
The success of the BDC industry is coming at its own expense, one veteran industry executive told InvestmentNews.
Drawing scores of breakaways with $50 billion in prehire assets, the hybrid RIA co-founded by former Wells Fargo leaders has officially hit the ambitious target set at its inception two years ago.
The fund's exposure to First Brands is about 1.4% of its $1.9 billion total assets, according to company filings.
Cetera is leaning on Summit Financial and its veteran leader Marshall Leeds to reel in those advisors.
LPL's W-2 channel, Linsco, also added a $330 million team from Janney, while Ameriprise's independent unit lassoed advisors from LPL and Wells Fargo.
'Advisors always tell you it's not about the money when it comes to recruiting, but when you see money like that, it's about the money,' one executive said.
The brokerage giant added over one million new brokerage accounts for the fourth straight quarter, while total client assets reached a record $11.59 trillion.
The acquisition marks an important boost to the firm's capabilities.
Raymond James 'has also been getting more love on Commonwealth recruiting success,' one analyst noted.
Majority prefer aging at home but rising costs and lack of planning threaten that goal.
RBC, Ameriprise, and Wells Fargo also announced new additions from Northwest Financial Advisors, LPL, and other rivals.
The cuts involved a few dozen workers in Stifel's IT department, mostly in St. Louis, according to a report.
'This is about as fiercely competitive an environment for a group of advisors as I’ve ever seen,' says one senior industry executive.
Raymond James adds group from Equitable Advisors, while LPL's Linsco channel lures an Atlanta-area duo from Truist.
Meanwhile, Carson Group seals its latest full acquisition in Pittsburgh, while Bluespring merges in another Kestra-affiliated firm in Virginia.
Raymond James' indie channel also added a veteran planner from Osaic, while a group of Morgan Stanley breakaways joins a Commonwealth-affiliated firm in Pennsylvania.
This week alone, Raymond James said it has recruited four Commonwealth teams with $1.08 billion in assets.
