InvestmentNews reported on November 4 that a four-advisor group from UBS has joined Raymond James in Beachwood, Ohio. The same report said a 36-year Cetera veteran has moved his $390 million practice to LPL Financial, so the two transitions landed on different platforms in the same news cycle.
The InvestmentNews summary identifies the Raymond James group as four advisors from UBS working out of Beachwood. The team's name and an asset figure for the group are not in the material available for this article, so this report does not estimate its size.
LPL's own November 3 release says Joe Borgese, CFP, of Contour Wealth Management joined its broker-dealer and RIA platforms from Cetera. Contour is based in Boyertown, Pennsylvania, outside Philadelphia, and serves individuals and families. The release attaches an asterisk to the roughly $390 million figure, saying it reflects year-end 2025 asset and holding details provided to LPL rather than a verified AUM total.
AdvisorHub reported in 2026 that Raymond James' Private Client Group had about 8,900 brokers across its employee and independent divisions. A separate AdvisorHub report on a UBS team in Ohio put the firm's 2025 count at about 8,800 and said Paul Shoukry has been chief executive since February 2025. The firm has recruited in Ohio before. AdvisorHub reported that Hull Penza Wealth Advisors, of Dublin, Ohio, left UBS for Raymond James in April with $476 million in assets, a separate team from the Beachwood group. Raymond James' own June release put that team's UBS assets at approximately $450 million, a figure that conflicts with AdvisorHub's.
LPL's release describes the firm as San Diego-based and Nasdaq-listed under LPLA, supporting more than 32,000 financial advisors and servicing and custodying about $2.6 trillion in brokerage and advisory assets. Cetera, also San Diego-based, oversees about $688 billion in assets under administration, according to WealthManagement.com. Earlier in 2026, WealthManagement.com reported that Cetera recruited the $305 million Palmetto Investment Consultants team of Rock Hill, South Carolina, from LPL, so the Contour move runs in the opposite direction.
According to the release, Contour chose LPL for its technology, operational support and advisor-focused service model. Neither the InvestmentNews summary nor the LPL release in the available material describes the timing of either transition or any further steps by the advisors involved.