Raymond James Is Turning Commonwealth’s Northeast Into A Recruiting Corridor
Raymond James added $387M from Commonwealth in Massachusetts and New York as LPL’s acquisition created a larger Northeast recruiting opportunity.
LPL Was Getting Bigger. Cetera And Raymond James Found Two Places To Recruit Against It.
Cetera recruited a $380M LPL team while Raymond James added $210M from Commonwealth, exposing two different pressures around LPL’s growth.
Raymond James Did Not Buy Commonwealth. It Still Found A Way To Win
Raymond James recruited 18 former Commonwealth teams with nearly $4.5B in assets, turning LPL’s acquisition into a live advisor-retention test.
LPL Lost About 5% Of Commonwealth Advisors. That Was Only The First Scoreboard
LPL’s Commonwealth deal faced about 5% advisor attrition early, but the bigger issue is whether asset retention, culture and conversion hold.
LPL Bought Commonwealth. Raymond James Is Still Picking Off Advisors
Raymond James added LPL and Commonwealth advisors as LPL, Ameriprise and rivals keep fighting for platform fit, retention and advisor independence.