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.
Cerulli research sees major acquisitions and mergers drive growth in the IBD channel, with advisors increasingly drawn to independence and scale.
Also, Raymond James transitions its asset management leadership, while US Bank names president of affluent wealth division.
The fund last week failed to get shareholder approval to reorganize the fund so that it could eventually list before the end of the year.
Elsewhere, Raymond James attracts more Commonwealth teams, Wells Fargo adds nearly $1 billion with UBS and JPMorgan defections, and Baird welcomes a veteran advisor from Edelman.
The fund did not initially win shareholders’ approval during a first round of voting that was tallied on September 4.
COO says since its summer transition to Cambridge Associates, the hybrid RIA has welcomed several teams representing $634 million in combined client assets.
Raymond James also kept its Commonwealth recruitment streak going, while Americana Partners and Pallas Capital Advisors each hired a veteran specialist advisor to boost their offerings.
