July 2026 Edition
Executive Summary
Advisor recruiting activity remained robust through the first half of 2026, with large teams continuing to move across wirehouse, regional, independent, and RIA channels. While transition economics remain important, this month’s activity reinforces a broader shift in advisor priorities. The firms attracting experienced advisors are increasingly differentiating themselves through platform flexibility, ownership opportunities, technology, succession planning, and the ability to help advisors build long-term enterprise value.
Recruiting activity also continues to demonstrate that the competitive landscape extends well beyond the traditional wirehouses. Regional firms, independent platforms, and specialized wealth management firms remain aggressive in attracting experienced advisors, while Texas continues to stand out as one of the industry’s most active recruiting and growth markets.
Recruiting Wire Scoreboard (Year-to-Date)
Recruiting Winners
| Rank | Firm | Recruited Assets |
|---|---|---|
| 1 | Raymond James | $15.7 Billion |
| 2 | Steward Partners | $6.1 Billion |
| 3 | Janney Montgomery Scott | $5.1 Billion |
| 4 | Rockefeller Capital Management | $4.0 Billion |
| 5 | Ameriprise | $2.1 Billion |
Largest Recruiting Losses
| Rank | Firm | Assets Lost |
|---|---|---|
| 1 | Merrill Lynch | $8.0 Billion |
| 2 | UBS | $6.7 Billion |
| 3 | Commonwealth | $5.0 Billion |
| 4 | JPMorgan | $2.8 Billion |
| 5 | Morgan Stanley | $2.7 Billion |
Raymond James continues to widen its lead as the industry’s recruiting leader, while Steward Partners, Janney Montgomery Scott, and Rockefeller Capital Management maintain strong momentum by consistently attracting experienced advisors and established teams.
Notable Advisor Moves
Billion-Dollar Truist Team Joins Wells Fargo FiNet
A team overseeing approximately $1 billion in client assets joined Merritt Point Wealth Advisors, a Wells Fargo FiNet practice in Florida.
Why it matters
Rather than joining a traditional employee model, the advisors chose an affiliation structure that offers greater operational flexibility while retaining the resources of a national platform. The move reflects continued demand for hybrid independence among experienced advisors.
Citizens Recruits $800 Million Morgan Stanley Team
Citizens attracted an $800 million Morgan Stanley team to strengthen its growing wealth management platform.
Why it matters
Regional firms continue demonstrating they can successfully compete for sophisticated advisor teams by emphasizing culture, leadership accessibility, and client-focused platforms rather than simply offering the largest recruiting packages.
&Partners Adds $550 Million Wells Fargo FiNet Team
Entrepreneurial wealth management platform &Partners recruited a $550 million advisory team from Wells Fargo FiNet.
Why it matters
The continued growth of boutique wealth management firms illustrates that advisors increasingly value entrepreneurial environments where they can influence firm direction while maintaining greater ownership over their practices.
LPL Recruits $1.5 Billion MassMutual Team in Dallas
LPL Financial recruited a $1.5 billion advisory team from MassMutual in the Dallas market.
Why it matters
Texas remains one of the industry’s most competitive recruiting markets as independent firms, broker-dealers, and RIAs continue expanding to serve one of the nation’s fastest-growing concentrations of affluent households and business owners.
$3.5 Billion UBS Private Wealth Team Launches Independent RIA
A UBS Private Wealth Management team overseeing approximately $3.5 billion left the wirehouse channel to establish an independent registered investment advisory firm in San Francisco.
Why it matters
Large breakaway transactions continue reinforcing one of the industry’s strongest long-term trends: advisors increasingly view ownership and control of their businesses as strategic assets that can generate meaningful enterprise value over time.
Five Trends We’re Watching
1. Raymond James Continues Building Recruiting Momentum
Raymond James remains the industry’s clear recruiting leader in 2026. Its continued success appears driven by consistent execution, advisor autonomy, and a platform that appeals to experienced advisors seeking long-term stability rather than short-term incentives.
2. Independence Continues to Gain Momentum
Many of the largest transitions this month involved advisors seeking greater ownership, operational flexibility, and control over their practices instead of simply maximizing transition compensation. Independence continues evolving from a niche option into a mainstream career path for experienced advisors.
3. Regional Firms Are Winning More Competitive Recruiting Battles
Citizens, Steward Partners, Janney Montgomery Scott, and Rockefeller Capital Management continue proving that advisors increasingly evaluate culture, leadership, client experience, and operational support alongside financial incentives. Brand recognition alone is no longer sufficient to retain top talent.
4. Texas Remains a Strategic Growth Market
Dallas and other Texas markets continue generating significant recruiting activity. Population growth, business migration, and a favorable business environment continue making Texas one of the industry’s most attractive regions for advisor recruitment, acquisitions, and practice expansion.
5. Enterprise Value Is Becoming the Defining Conversation
Across nearly every significant advisor transition this month, the discussion extended well beyond annual payout grids. Advisors increasingly evaluate succession planning, ownership structure, technology capabilities, operational efficiency, and the long-term value of the business they are building. Those considerations are becoming central to recruiting decisions across every channel.
BKLM Perspective
The headlines naturally focus on where advisors moved. The more important question is why.
July’s recruiting activity reinforces a trend that has been developing for several years: experienced advisors are increasingly making strategic business decisions rather than compensation decisions.
The firms attracting established teams consistently emphasize advisor ownership, operational flexibility, scalable technology, succession planning, and the ability to build long-term enterprise value. Those factors are becoming increasingly important as advisory businesses mature and owners think beyond annual income toward the future value of their firms.
For advisory firm owners, this month’s recruiting activity offers an important reminder. Whether or not you’re considering a transition, understanding these structural trends can help strengthen your own business. Firms that invest in scalable operations, succession planning, client experience, and enterprise value creation are likely to be better positioned regardless of market conditions or recruiting cycles.
Sources
- AdvisorHub Recruiting Wire Scoreboard
- AdvisorHub Advisor Moves
- Barron’s Advisor recruiting coverage