LPL, Raymond James And Prospera Show Why Advisors Are Switching Platforms

Wealth Management

Jul 2

LPL Financial, Raymond James and Prospera Financial Services all added advisor teams in a recruiting week that shows how platform choice is becoming more personal, more operational and more tied to client experience.

The moves were not all the same. LPL added Edge Wealth Advisory Group, a father-son Texas team from Raymond James with about $200 million in assets. Raymond James added Kirk Huismann, a CPA and advisor from Commonwealth Financial Network, along with another father-son duo, Thomas and Tommy Vitaletti, through Towne Wealth Management at TowneBank. Prospera added Behrle | Bergin, an Irvine, California practice from B. Riley Wealth Management with about $200 million in assets under management.

The asset numbers matter, but they are not the full story.

Each move points to a different advisor need. Edge Wealth wanted more independence, technology and room to expand. Huismann wanted a culture that fit his planning and coaching style. The Vitalettis needed a new home after Old Point National Bank was acquired by TowneBank. Behrle | Bergin wanted a smaller-firm service culture without giving up resources normally associated with larger platforms.

That makes this roundup useful. It shows the recruiting market from the advisor’s side, where the decision is not simply “which firm is bigger?” but “which platform lets me serve my clients the way I want?”

TL;DR

LPL Financial added Edge Wealth Advisory Group from Raymond James.
Edge Wealth reported serving about $200 million in advisory, brokerage and retirement plan assets.
The Texas-based father-son team, John Edgecomb and Robb Edgecomb, has a combined 65 years of industry experience.
Raymond James added Kirk Huismann, CPA, from Commonwealth Financial Network to its independent advisor channel.
Huismann managed more than $144 million at Commonwealth and operates as Friedline Financial in Lee’s Summit, Missouri.
Raymond James also added Thomas and Tommy Vitaletti through Towne Wealth Management at TowneBank.
The Vitalettis manage about $130 million and previously worked through Old Point National Bank, which was acquired by TowneBank.
Prospera added Behrle | Bergin of Irvine, California from B. Riley Wealth Management.
Behrle | Bergin manages about $200 million and focuses on high-net-worth clients, corporate retirement plans and fixed-income strategy.
Main takeaway: these moves show that advisors are switching platforms for different reasons: independence, technology, culture, bank-channel continuity and personalized home-office support.

The Switchboard: Four Advisor Moves, Four Different Reasons To Leave

LPL, Raymond James and Prospera added new advisor teams in a roundup that looks simple at first glance.

But it is better to read the story as a switchboard.

Each move connects a different advisor problem to a different platform answer.

Edge Wealth moved from Raymond James to LPL because it wanted more independence, flexibility, technology and room to expand in Texas and nearby states. Huismann moved from Commonwealth to Raymond James because he saw a better match for planning, teamwork and client-first service. The Vitalettis moved into Raymond James’ Financial Institutions Division after a bank acquisition changed the platform around them. Behrle | Bergin moved to Prospera because it wanted sophisticated resources with the service culture of a smaller firm.

That is why this is not one generic recruiting story.

The advisors were not all solving the same problem.

LPL’s Edge Wealth Win Is About Building Room Around A Family Practice

LPL Financial welcomed Edge Wealth Advisory Group, a Texas-based practice led by father-son duo John Edgecomb and Robb Edgecomb.

The team reported serving approximately $200 million in advisory, brokerage and retirement plan assets and joined LPL from Raymond James. Edge Wealth has offices in Granite Shoals and Gonzales, near the Austin area, and the Edgecombs have a combined 65 years of experience.

This is not only an asset move. It is a family-practice move.

A father-son team carries a different message to clients. The senior advisor brings long-standing experience. The next-generation advisor brings continuity, technology comfort and future growth potential.

Why The Family Structure Matters

Clients often ask an unspoken question: who will take care of me later?

That question becomes more important when an advisor has been in the business for decades. A family-led practice can answer it more naturally if the next generation is already part of the client relationship.

For LPL, that makes Edge Wealth attractive beyond the reported $200 million. The firm is not only adding assets. It is adding a practice with continuity, local identity and a growth path.

What Edge Wealth Wanted From LPL

The official LPL announcement said the team chose LPL for greater independence, flexibility and access to advanced technology. Robb Edgecomb also pointed to LPL’s investment management and research platform, planning software and the possibility of integrating AI across the business.

Those details matter.

Advisor recruiting is no longer only about payout. Advisors want systems that help them work faster, plan deeper and communicate better with clients.

For Edge Wealth, the move appears tied to the ability to build a more scalable practice without losing its client-first identity.

Edge Wealth’s Client Base Explains The Technology Need

Edge Wealth serves business owners, retirees, people transitioning into retirement and clients who are just starting their financial journey.

That range creates operational complexity.

A business owner may need tax coordination, business-sale planning, retirement plan guidance, liquidity planning and risk management. A retiree may need income planning, cash-flow management, Social Security strategy, estate coordination and market-volatility guidance. A younger client may need goal-setting, budgeting, first investments and long-term planning education.

One advisor platform has to support all of that.

Planning Tools Become A Client-Service Issue

Technology can sound like an advisor convenience. It is more than that.

Better planning tools can change the client conversation. Advisors can model different retirement dates, stress-test market declines, compare income strategies, evaluate major purchases and show clients what could happen if assumptions change.

Edge Wealth’s own planning language around “what if” and worst-case scenarios fits that need.

A platform that makes those conversations easier can help advisors turn planning into a more concrete experience.

AI Is Becoming Part Of The Recruiting Pitch

The LPL announcement also mentioned AI integration as something Robb Edgecomb was eager to use.

That is notable because AI is becoming part of the advisor-recruiting conversation. Advisors are asking whether a platform can help them automate administrative work, summarize notes, improve workflows, organize client data or support planning tasks.

The key is whether AI makes advisors more useful to clients, not just more efficient internally.

Raymond James Gets A Commonwealth Advisor With A CPA Lens

Raymond James also added Kirk Huismann, CPA, from Commonwealth Financial Network.

Raymond James welcomed Huismann to its independent advisor channel, where he operates as Friedline Financial in Lee’s Summit, Missouri. He managed more than $144 million in client assets at Commonwealth and is joined by office manager and client service associate Cindy Kennedy, plus client service associates Cindy Smith and Michael Pugliese.

This move matters because Huismann is not only an advisor. He is also a CPA.

That background gives the move a planning angle.

Why The CPA Background Changes The Advisor Story

A CPA background can shape how an advisor works with clients.

Clients often need help connecting investments with tax-sensitive decisions. That can include retirement withdrawals, business income, charitable giving, Roth conversions, capital gains, estate planning coordination and cash-flow timing.

Raymond James notes that Huismann serves families, individuals, business owners and retirees. Those client types often need planning that crosses tax, investment and life-stage decisions.

The advisor still needs tax professionals for tax advice, but a CPA background can help frame the right questions.

The Coaching Language Is Also Useful

Huismann connected his work as an advisor to his experience as a coach, emphasizing preparation, trust and planning.

That may sound personal, but it has business value.

Clients often need more than technical recommendations. They need someone who can help them make decisions, stay disciplined and understand trade-offs. A coach-style planning approach can be especially useful for retirees, business owners and families making long-term decisions.

For Raymond James, that gives the move a human-service story, not just another Commonwealth departure.

Commonwealth Remains A Recruiting Source, But The Story Is More Specific Here

Huismann’s move from Commonwealth to Raymond James also fits the larger post-LPL acquisition environment.

Since LPL acquired Commonwealth, rival firms have watched Commonwealth advisors closely. But this particular move should not be treated only as a Commonwealth-to-Raymond James headline.

The more useful reading is about advisor fit.

Huismann joined Raymond James’ independent advisor channel, not an employee wirehouse model. He brought a local practice, support team and planning identity with him.

Why The Support Team Matters

The move includes Kennedy, Smith and Pugliese.

That is important because client service teams often carry the daily memory of a practice. They know who prefers phone calls, who needs help with forms, who has recurring distributions, who is anxious during market volatility and who expects a certain rhythm of communication.

When the support team moves with the advisor, clients may feel less disruption.

That is especially important when a practice leaves a firm known for advisor service culture.

What Raymond James Has To Prove

Raymond James has to show that Huismann’s clients receive a smoother or stronger experience after the transition.

The platform needs to support:

planning workflows,
client communication,
investment access,
operational service,
transition paperwork,
technology adoption,
support-team continuity.

If those pieces work, Raymond James can use the move as another proof point in its Commonwealth-related recruiting message.

The Vitalettis Show How Bank Deals Can Trigger Advisor Platform Decisions

Raymond James also added Thomas Vitaletti and Tommy Vitaletti through Towne Wealth Management at TowneBank.

The father-son duo joined Raymond James’ Financial Institutions Division and manages approximately $130 million in client assets. They were previously affiliated with LPL as part of Old Point National Bank, which was acquired by TowneBank in September.

This move is different from Huismann’s.

Huismann chose Raymond James after leaving Commonwealth. The Vitalettis’ platform decision came after a bank acquisition changed the environment around their investment program.

Bank-Channel Transitions Are Their Own Category

Bank-channel advisor moves can be complicated because the advisor relationship is tied to a financial institution.

If a bank is acquired, the wealth management program may change. The advisor may need to decide whether the new bank’s investment partner, culture, technology and service model fit the practice.

That appears to be the practical setting for the Vitalettis.

Thomas Vitaletti said the TowneBank acquisition of Old Point gave them a chance to step back and consider what was best for their practice and clients. That is exactly the type of decision bank-channel advisors face when ownership changes.

The Father-Son Continuity Theme Appears Again

The Vitaletti move also includes a father-son structure.

Thomas Vitaletti has more than three decades of experience in banking and wealth management. Tommy Vitaletti began his financial services career in 2021 alongside his father.

That combination can be powerful inside a bank-channel setting. Longtime clients may trust the senior advisor, while the next-generation advisor helps extend the practice’s future.

For Towne Wealth Management and Raymond James, the team adds both experience and continuity.

Raymond James’ Financial Institutions Division Has A Different Recruiting Pitch

The Vitaletti move sits inside Raymond James’ Financial Institutions Division.

That division supports banks and credit unions that want to offer investment and wealth management services through Raymond James Financial Services.

This is not the same as Raymond James recruiting an independent RIA-style practice.

The client entry point may be the bank. The wealth management relationship sits beside banking relationships, local trust and community presence.

Why Banks Need Strong Wealth Programs

Banks often have deep client relationships but may need better wealth management capabilities.

A business owner may already use the bank for deposits, lending or treasury services. A family may have a mortgage, checking account or long-term relationship with local bankers. A retiree may trust the bank brand but need investment advice.

A wealth program gives the bank a way to serve more of the client’s financial life.

Why Advisors Need The Right Partner

Bank-channel advisors need a platform that can support investment management, planning, compliance, product access and client service while fitting the bank’s culture.

That is why the Vitaletti move matters.

It shows that Raymond James is not only competing for standalone independent advisors. It is also competing for financial institution relationships and the advisors who serve clients inside those institutions.

Prospera’s Behrle | Bergin Move Is A Boutique-Culture Test

Prospera Financial Services added Behrle | Bergin of Irvine, California.

Prospera announced that Behrle | Bergin joined its platform with about $200 million in AUM. Managing directors Steven Behrle and Joe Bergin previously managed client assets at B. Riley Wealth Management and bring more than 80 years of combined wealth management experience.

This is the most culture-driven move in the roundup.

The team serves high-net-worth individuals and corporate retirement plan sponsors and trustees, with a specific focus on fixed income and bond strategy. That client base requires both sophistication and service.

Why Fixed Income And Retirement Plans Need A Different Platform Fit

A practice focused on fixed income and corporate retirement plans may need a platform that supports research, product access, execution, plan-level conversations, trustee responsibilities and high-touch service.

Fixed income is not always simple. Clients may need help with:

yield,
duration,
credit risk,
laddering,
municipal bonds,
corporate bonds,
interest-rate sensitivity,
income planning,
preservation goals,
portfolio construction.

Corporate retirement plan clients add another layer. Sponsors and trustees may need education, fiduciary awareness, plan design support and participant-focused service.

For Behrle | Bergin, a platform decision affects the firm’s ability to serve both individuals and institutional-style clients.

Why Prospera’s Size Became Part Of The Pitch

Prospera’s announcement framed the firm as a boutique platform with resources comparable to larger wirehouses and banks, plus personalized service.

That is a familiar but important recruiting pitch.

Some advisors want large-firm resources but do not want to feel like a small practice inside a giant organization. Prospera is trying to occupy the middle ground: sophisticated enough for complex clients, small enough to know the advisor.

Behrle | Bergin’s Comments Point To A Consolidation Backlash

Behrle | Bergin’s move also reflects a broader industry theme: advisor frustration with consolidation.

Bergin said consolidation has stripped away much of the culture that is critical to building a successful advisory firm. That comment matters because it captures what many boutique and mid-sized platforms are trying to sell.

They are not always trying to beat giants on scale. They are trying to beat them on attention.

The Boutique Promise

The boutique promise is simple: advisors get access to strong tools without becoming anonymous.

That promise can be especially appealing to veteran advisors who built their business around personal service and do not want platform growth to change the client experience.

The Risk For Boutique Firms

Boutique firms still have to execute.

Personal service is valuable only if the platform also delivers strong operations, technology, compliance support, investment access and transition help.

A small platform that feels personal but cannot support complex clients will not work for practices like Behrle | Bergin. That is why Prospera emphasized resources, home-office support and assets under management in its announcement.

The Hidden Pattern: Father-Son Teams, Local Identity And Client Continuity

Two of the moves in this roundup involve father-son teams: Edge Wealth and the Vitalettis.

That is not a coincidence worth ignoring.

Family-led practices can be attractive in advisor recruiting because they often carry continuity, trust and a clear future story.

Clients Want To Know What Happens Next

When a senior advisor has served clients for decades, clients may eventually wonder whether the practice has a next generation.

A father-son structure can answer that question directly. It may give clients more confidence that the relationship can continue across retirement, inheritance, business succession and family transitions.

Firms Want Practices That Can Last

Recruiting firms also like continuity.

A next-generation advisor can help retain assets, serve younger family members and keep the practice growing after the senior advisor slows down.

That makes family-led practices valuable even when their asset numbers are not the largest in the market.

Continuity Is Not Automatic

The family structure helps, but it does not guarantee success.

The next-generation advisor still has to earn client trust. The senior advisor still has to transfer relationships carefully. The platform still has to support the team through transition.

A father-son team can be a strong continuity signal, but only if the practice manages the handoff well.

The Source-Firm Map Shows How Circular Recruiting Has Become

This roundup also shows how advisor recruiting has become circular.

LPL recruited Edge Wealth from Raymond James. Raymond James recruited Huismann from Commonwealth and the Vitalettis through a bank-channel move that previously involved LPL. Prospera recruited Behrle | Bergin from B. Riley Wealth Management.

No platform is only a recruiter. Every firm can also become a source firm.

LPL Wins And Loses In The Same Story

LPL gained Edge Wealth from Raymond James. But the Vitalettis had previously been affiliated with LPL through Old Point National Bank before moving into the Raymond James/TowneBank structure.

That shows the complexity of modern recruiting.

Large platforms can win major teams while still losing others through bank acquisitions, practice changes or platform-fit decisions.

Raymond James Is Both Destination And Source

Raymond James lost Edge Wealth to LPL, but gained Huismann and the Vitalettis.

That makes the story more balanced than a simple winner-loser headline. Raymond James remains a strong recruiting destination, but it still has to defend advisors from firms like LPL.

Prospera Is Competing On Culture

Prospera’s Behrle | Bergin win shows that smaller or boutique independent platforms can still compete against larger organizations when the advisor values culture, service and specialized support.

That is important because advisor recruiting is not always won by the biggest firm.

What The Moves Say About Platform Fit

These advisor teams were choosing platforms for practical reasons.

Edge Wealth wanted a larger independent platform with technology and expansion support.

Huismann wanted an independent environment that matched his planning, CPA and coaching style.

The Vitalettis needed the right financial institutions partner after a bank acquisition changed their setting.

Behrle | Bergin wanted sophisticated resources without losing boutique service culture.

That is platform fit.

It is not one thing. It is the match between the advisor’s client base, business goals, service style and operating needs.

Where This Fits In The LPL And Raymond James Recruiting Battle

This roundup fits the broader LPL and Raymond James advisor recruiting competition across the independent wealth management market.

LPL and Raymond James keep crossing paths because they both appeal to advisors who want support, brand strength and independence. But they do not always win for the same reasons.

LPL may appeal to advisors looking for scale, technology, RIA infrastructure and multiple affiliation models. Raymond James may appeal to advisors looking for culture, independence, financial institution partnerships and strong advisor support. Prospera complicates the field by offering a boutique alternative for advisors who want large-platform tools with a more personal service experience.

That makes the market harder to summarize.

The recruiting question is no longer only “LPL or Raymond James?” It is “which platform best fits the practice?”

What Clients Should Ask When Their Advisor Changes Platforms

Clients do not need to follow every recruiting headline. But when their advisor changes firms, they should ask practical questions.

Will My Advisor And Service Team Stay The Same?

Clients should confirm whether the same advisor, assistant and service contacts will continue supporting them.

Will My Accounts Or Statements Change?

A platform move may require new paperwork, new account numbers, new online access and new statements.

Will Fees Or Disclosures Change?

Clients should review advisory agreements, brokerage disclosures, fee schedules and any changes to available products or services.

What New Resources Does The Platform Add?

The advisor should be able to explain whether the new firm adds planning tools, research, investment access, technology, retirement plan support or stronger service.

Why Is This Move Better For Me?

This is the most important question.

The advisor’s answer should focus on the client experience, not only advisor economics.

What Each Platform Has To Prove Now

Recruiting announcements are promises. Client retention is the proof.

LPL Has To Prove Scale Feels Helpful

For Edge Wealth, LPL must show that its technology, planning tools, research and RIA platform make the practice stronger without making it feel less personal.

Raymond James Has To Prove Its Culture Travels Across Channels

Raymond James is adding advisors through its independent channel and its Financial Institutions Division. The firm has to deliver consistent support across both settings.

Prospera Has To Prove Boutique Does Not Mean Limited

For Behrle | Bergin, Prospera must show that a boutique platform can support high-net-worth clients, retirement plan sponsors, trustees and fixed-income strategy at the level the practice needs.

Reader Guide: LPL, Raymond James And Prospera Advisor Moves

What did LPL add? LPL added Edge Wealth Advisory Group, a Texas-based father-son team from Raymond James with about $200 million in advisory, brokerage and retirement plan assets.
Who leads Edge Wealth Advisory Group? The practice is led by John Edgecomb and Robb Edgecomb, who have a combined 65 years of industry experience.
What did Raymond James add from Commonwealth? Raymond James added Kirk Huismann, CPA, who operates as Friedline Financial in Lee’s Summit, Missouri and managed more than $144 million at Commonwealth.
Who else did Raymond James add? Raymond James added father-son advisors Thomas and Tommy Vitaletti through Towne Wealth Management at TowneBank. They manage about $130 million.
Why did the Vitaletti move happen? The move followed TowneBank’s acquisition of Old Point National Bank, where the Vitalettis had been affiliated with LPL.
What did Prospera add? Prospera added Behrle | Bergin of Irvine, California from B. Riley Wealth Management. The practice manages about $200 million.
What makes Behrle | Bergin different? The team focuses on high-net-worth individuals, corporate retirement plan sponsors and trustees, with a specific focus on fixed income and bond strategy.
What is the main lesson? The main lesson is that advisor moves are being driven by platform fit. Advisors are choosing firms based on independence, technology, culture, service model, bank-channel support and client needs.

What To Watch Next

Edge Wealth’s Texas Expansion

LPL’s announcement pointed to Edge Wealth’s interest in expanding in Texas and surrounding states. Watch whether the team uses LPL’s platform to grow through new clients, advisor additions or nearby markets.

More Commonwealth-To-Raymond James Moves

Huismann’s move adds another Commonwealth-related data point. If more Commonwealth advisors choose Raymond James, it will strengthen Raymond James’ post-LPL-acquisition recruiting story.

Bank-Channel Movement After Acquisitions

The Vitaletti move shows how bank mergers can trigger advisor platform decisions. More bank consolidation could create similar opportunities for Raymond James, LPL and other financial institution channels.

Prospera’s Boutique Recruiting Pitch

Behrle | Bergin gives Prospera another example of experienced advisors choosing a smaller platform. Watch whether the firm keeps winning teams that want large-firm capabilities with more personal home-office service.

Client Retention After Platform Changes

The true test is whether clients move and stay. Asset announcements are the starting point. Retention proves whether the platform change worked.

The Bigger Takeaway: Advisor Moves Are Becoming More Personal

LPL, Raymond James and Prospera all added advisor teams, but the moves do not point to one simple industry trend.

They point to a more personal recruiting market.

Edge Wealth wanted independence, technology and room to grow as a family-led practice. Huismann wanted a platform that matched his planning, CPA and coaching background. The Vitalettis needed a strong financial institution partner after a bank acquisition changed their platform environment. Behrle | Bergin wanted a boutique culture with resources strong enough for high-net-worth clients, corporate retirement plans and fixed-income work.

Those are different needs.

That is why firms cannot win advisor recruiting with generic promises. “Better technology,” “more support” and “strong culture” are not enough unless those claims match the advisor’s actual practice.

The firms that win will be the ones that understand what the advisor is really trying to protect: client trust, local identity, service style, continuity, planning depth and the freedom to build the practice around those priorities.

In this roundup, LPL, Raymond James and Prospera all found advisors looking for a different kind of fit.

That is the real story behind the moves.