A group of six wealth management teams, all former affiliates of Commonwealth Financial Network, have merged to form a new RIA.
According to a statement on Tuesday, the breakaways that formed Kintra, the new RIA headquartered in Philadelphia, collectively manage more than $4 billion in assets and employ 74 people across eight states: Pennsylvania, New Jersey, Rhode Island, Massachusetts, Ohio, Kentucky, Florida, and Texas.
The six founding firms are Evergreen Wealth Solutions, Warren Wealth Associates, Loring Advisory Group, Tupler Financial, Rembrandt Financial Group, and McCarthy & Cox.
The launch is among the most concrete examples yet of a broader reshuffling that has followed LPL Financial's $2.7 billion acquisition of Commonwealth, which was announced in March last year.
A January report from AdvizorPro and Muriel Consulting determined that 653 advisors – roughly 22.5% of Commonwealth's headcount at the time of the deal – had departed between April 1 and Dec. 31 of last year. LPL has said it remains on track to meet a 90% retention goal for Commonwealth advisors post-acquisition, though the company has not publicly clarified whether that target refers to headcount or assets.
"We're retaining the larger advisers," LPL CEO Rich Steinmeier said during the company's January earnings call. As of that time, he said advisors representing the "low 80% range" of assets had signed agreements to stay with Commonwealth under LPL's ownership.
The culture gap between the two firms has been a recurring theme among those who left. Muriel Consulting founder Shelby Nicholl, whose firm co-authored the AdvizorPro report, told InvestmentNews in January that many Commonwealth advisors had a visceral reaction to the LPL deal.
"Commonwealth has spent decades defining itself in contrast to LPL," she said. "So when Commonwealth sold to LPL, it felt to many advisors as just very much a right turn in the history of the firm."
Raymond James absorbed the largest share of departing advisors at 33%, followed by Kestra at 19% and Cambridge Investment Research at 11%, according to the Muriel Consulting report. Of all advisors who left Commonwealth in 2025, 36% moved to an RIA, with Farther and Savvy Wealth among the destinations.
Kintra appears to be positioning itself as a values-driven alternative to larger platforms. Co-founder and CEO Andy Harris, who'd previously been a registered broker with Commonwealth since 2016, said in a statement that the merger is intended to deepen collaboration among advisors and improve client outcomes.
"By coming together, we're able to elevate the client experience, expand our capabilities, and invest more deeply in a modern, technology-enabled platform," Harris said on Tuesday.
Co-founder Nick Loring, who leads Loring Advisory Group, framed the firm's growth strategy around selectivity. "That means advisors who share our values and want to build something that genuinely lasts," he said in the statement. "Kintra is designed to grow in a way that makes us better, not just bigger."
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