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The Northeast and Southeast tied for the most advisor move activity in July with 33 moves each, but the Northeast led by a wide margin in disclosed assets, totaling approximately $18.36B in client assets compared to roughly $7.60B in the Southeast.
The West followed with 28 moves totaling approximately $11.15B, the second-highest asset total of any region despite trailing both the Northeast and Southeast in volume. The Midwest recorded 15 moves totaling about $2.47B, while the Southwest was the least active region with 13 moves totaling approximately $1.90B. Three additional moves spanned multiple regions, representing approximately $2.97B in combined client assets.
The month's headline move came from the Northeast, where a six-advisor team left Morgan Stanley's Graystone Consulting for Merrill Private Wealth Management in Middleton, MA, bringing $13B in client assets. The second-largest transition was in the West, where Raymond James Financial added the $5.5B Capital Reserve Group from Comerica's Ameriprise independent brokerage platform in Newport Beach, CA.
LPL Financial was July's most active recruiter by volume, adding 11 teams across its affiliate channels representing approximately $3.2B in disclosed client assets. Notable additions included the $725M Genesis Wealth team from J.P. Morgan Securities in Deerfield, IL, the $600M Wealth Consulting Group team (Empathic Wealth Partners) from Mariner Independent Advisor Network in San Ramon, CA, and the $380M Summit Ridge Financial Advisors from Wells Fargo Advisors in Sun Valley, ID.
Raymond James led all recruiters by assets, adding four teams across its employee and independent channels representing more than $7B in disclosed client assets, headlined by the aforementioned $5.5B Capital Reserve Group. Other additions included $1B+ KWM Wealth Advisory from Stifel in Pasadena, CA and Honolulu, HI, $500M Essential Wealth Partners from UBS Financial Services in Tinton Falls, NJ, and $262M Green Fairways Wealth Management from Stifel in Venice, FL.
RBC Wealth Management ranked third by assets, adding three teams totaling roughly $3.1B, led by $1.6B KPM Wealth Advisory Group from Stifel in Dallas and $1.5B Focus Wealth Management from UBS in Palm Beach Gardens, FL. &Partners also had a strong month, adding $1.8B 32 North Wealth from Wells Fargo Advisors in Meridian, MS and $524M Fisette & Kim Financial Services from Raymond James Financial Services in Issaquah, WA.
Elsewhere, J.P. Morgan's private bank and wealth management units continued an aggressive individual hiring push, adding roughly 30 bankers and advisors across the country, more than a quarter of all July moves, though none of the transitions carried disclosed client assets.
Advisor Moves
