Raymond James and LPL Add Wealth Teams With More Than $1 Billion in Client Assets

Two advisor moves bring established practices and substantial reported client assets to Raymond James and LPL Financial. A four-advisor team in Ohio joined Raymond James & Associates with more than $700 million in client assets, while Pennsylvania-based Contour Wealth Management joined LPL with approximately $390 million. Together, the moves show how firms are competing for experienced teams by emphasizing practice support, technology, client costs and organizational fit.

Raymond James adds an Ohio team with more than $700 million

Raymond James & Associates, the firm’s employee advisor channel, added Thomas Massey, CPM, Michelle Herman, ChFC, CDFA, Joseph Licate and John Egan. Senior Registered Client Service Associate Lyndsey Fern also joined the team at the firm’s Beachwood, Ohio office. The group operates as 42° North Advisors of Raymond James and came from UBS Financial Services, where it collectively managed more than $700 million in client assets. Amy Smart, Mid-American regional director for Raymond James & Associates, confirmed the move.

The team brings decades of experience across its members. Massey, senior vice president of wealth management, entered financial services in 1987 and spent 18 years at UBS. His background includes an English literature degree from Northwestern University, the Investment Consultant Program at the Wharton School of Business and the Certified Portfolio Manager designation from Columbia University. He also served as a guest lecturer at Columbia for more than five years.

Herman, a first vice president of wealth management, has 24 years of experience. She holds the Chartered Financial Consultant and Certified Divorce Financial Analyst designations and spent four years at her previous firm. Licate, also a senior vice president of wealth management, has more than four decades in the industry and completed advanced coursework through The American College of Financial Services and the Wharton School of Business. Egan, a vice president of wealth management, has 46 years of experience, with a focus on preserving and building long-term wealth for individuals and families.

The practice serves families, individuals, business owners, corporate executives, family offices and retirees. Its work includes customized financial planning, investment management and wealth management guidance. That range of clients makes continuity and day-to-day service central parts of the transition: the move brings the team to a new platform while its stated focus remains on serving households and organizations with different needs.

Massey said the team weighed the firm’s reputation, leadership stability and client-first values in choosing Raymond James. He said those qualities gave the team confidence it would have support and resources to serve clients over the long term. Smart described the new arrangement as giving the advisors freedom, resources and dedicated support to shape their practice around client needs and grow on their own terms.

The hire extends a run of Raymond James & Associates recruiting from UBS during 2026. Earlier recruiting moves from UBS have taken place as advisors respond to changes in how the firm compensates its workforce. The source does not specify the terms of this team’s transition, so the assets it managed at UBS provide scale, but not a measure of assets that will necessarily transfer or remain with the practice.

Contour joins LPL from Cetera

LPL Financial added Joe Borgese, CFP, and Contour Wealth Management, LLC to its broker-dealer and registered investment advisor platforms. The practice, based in Boyertown, Pennsylvania, outside Philadelphia, reported approximately $390 million in assets. Borgese joined from Cetera and began his financial services career in 1990, first working in banking before moving to the corporate side of the industry.

Contour’s long-tenured staff includes Lindsey Borgese, CFP, who helps manage the office, and Diana C. Dugan, an Enrolled Agent. Administrative team members Brian Christman, Cheryl Dietz and Karen Walla also joined the practice at LPL. That continuity gives the change a team dimension beyond the lead advisor: clients who work with the practice may interact with several members across planning and office operations.

Borgese cited technology, operational efficiency and the prospect of delivering better value to clients as reasons for the change. He said LPL’s technology, operational support and team-based approach could help the practice work more efficiently. He also pointed to cost efficiencies for clients as a factor in leaving Cetera. The comments describe the intended benefits of the move; no specific cost savings or productivity measures were provided.

LPL chief growth officer Marc Cohen characterized Contour as a relationship-centered practice serving clients across generations. He said the team had built an experience intended to evolve with families through different stages of life. For an established practice, the operating platform can affect how staff handle service and support, while the client relationship remains tied to the people providing that service. The source provides no details on changes to Contour’s investment approach or client arrangements.

The addition fits a broader pattern of Cetera advisors joining LPL. Other Cetera teams have moved to LPL during 2026, as the two large independent broker-dealer firms compete for established practices. Recruiting can bring firms experienced advisors and existing client relationships, while costs associated with attracting those teams can affect the economics of growth. Reporting has described recruiting costs at both firms as having climbed to record levels in recent years.

The asset figures offer a useful measure of the scale of these practices, but they don’t establish how much client business will ultimately stay with either team after a change of firm. The clearest signals to watch are whether the promised operational support and technology help maintain service, and whether the teams preserve client relationships through the transition.