Each week, Financial Planning rounds up
Advisor moves: Raymond James lands $1B LPL team; $2.7B Citi private banker joins BofA

Each week, Financial Planning rounds up
Industry experts think LPL will have to work hard to retain Commonwealth advisors who were sold on the idea that they'd be working for a "boutique" firm.
Experts say that while data ownership might at first be time-consuming and costly, the long-term benefits make it an extremely worthwhile investment.
The acquisition will bring LPL as much as $285 billion in AUM and 2,900 advisors when it closes in the second half of the year.
Also this week, Ameriprise CEO James Cracchiolo sees a 12% bump in compensation in 2024 and new LPL CEO Rich Steinmeier also sees a hefty pay bump.
Wage growth for job-hoppers is on the decline, but financial advisors say that might be a good thing for long-term retirement savings.
As group president of Envestnet Solutions and co-chief investment officer at Envestnet, D'Auria is responsible for research, overlay, direct indexing, sustainable investing and retirement services.