Raymond James Recruits $2.8 Billion Commonwealth Team Ahead of LPL's 2026 Transition Deadline
Updated
Updated · Wealth Management · May 28
Raymond James Recruits $2.8 Billion Commonwealth Team Ahead of LPL's 2026 Transition Deadline
1 articles · Updated · Wealth Management · May 28
Financial Strategies Retirement Partners, a Bedford, New Hampshire team with 12 advisors, 24 employees and $2.8 billion in assets, is leaving Commonwealth to join Raymond James Financial Services.
The move comes before former Commonwealth advisors must shift onto LPL Financial platforms by the end of 2026, after LPL closed its acquisition of Commonwealth in August 2025.
FSRP's asset base includes $1 billion in private wealth and $1.8 billion in employer-sponsored retirement plan assets, making it another sizable win in Raymond James' recruiting push.
Raymond James has been among the most active recruiters of ex-Commonwealth advisors and has increased recruiting spending, while rivals including Cetera, Kestra, Arkadios and RIAs also compete for breakaway teams.
With recruitment spending soaring, what is the true cost of advisor loyalty today?
Is LPL's mega-merger strategy creating more rivals than it is absorbing?
Is AI the new kingmaker in the battle for top financial advisors?