Raymond James Financial

The IBD completed a stellar recruiting year by adding a team led by a 30-year veteran advisor.

The UHNW unit signed advisors managing a combined $3.7 billion this year and committed to maintaining a physical presence in its New York headquarters.

LPL Financial and indie rivals like Raymond James, Wells Fargo FiNet and Kestra Financial completed at least 17 recruiting grabs of $800 million or more this year.

The OSJ scooped up teams from Edward Jones, Wells Fargo Advisors and Wedbush Securities.

The latest deal by a wealth manager for an employee services firm enables the Raymond James Private Client Group to expand its reach.

The firm also added a new unit to accommodate its dramatic advisor growth — from one to 140 in seven years.

In a bid to attract clients left out by AUM fees, IBDs are enabling advisors to take approaches first made popular in the full RIA channel.

The firm is consolidating its broker-dealer and standalone RIA custody units into one division.

The independent firm has been an aggressive recruiter since its founding in 2013.

Ameriprise, for example, has hosted more six times as many advisors virtually than it did in person last year.