Three firms secure experienced wealth management teams as advisor recruiting competition intensifies across the US.

Three broker-dealers have announced significant advisor additions in the latest wave of recruiting activity, with Raymond James & Associates, Ameriprise Financial and Cetera Financial Group collectively recruiting teams overseeing more than $2.1 billion in client assets.

Raymond James lands $1.5B PNC team in Washington, D.C.

Raymond James & Associates (RJA) – the firm’s employee advisor channel – has welcomed Kenneth “Ken” Killfoil, CFP, CIMA, Kathleen “K.C.” Koch, CFP, and Kris Morin, JD, LL.M., to its platform. The team, based in Washington, D.C., arrives from PNC Private Bank, where it managed over $1.5 billion in client assets.

Operating as KKM Wealth Partners within Alex. Brown, the team is joined by Registered Client Service Associate Mallory Schmidt. The practice focuses on comprehensive wealth management for high-net-worth individuals, multigenerational families, corporate executives, foundations, endowments, nonprofits and business owners.

“Raymond James provides the resources, technology and breadth of capabilities that position our team to address the unique needs of the individuals and families we serve,” said Killfoil, managing director of wealth management. “The firm’s client-focused culture and support allow us to preserve the personalized approach that is central to our practice while expanding the solutions available to our clients.”

Killfoil brings more than 20 years of experience in financial planning and investment management, including 13 years at PNC. He holds a master’s degree in business from Georgetown University. Koch, who serves as managing director, contributed 10 years at PNC and holds a master’s degree in education from Johns Hopkins University. Morin, also a managing director, previously practiced as a trusts and estates attorney before entering financial services in 2022, and holds a Juris Doctor and Master of Laws in taxation from Villanova University.

Tony Barrett, North Atlantic regional director for RJA, confirmed the hire. Steve Pryor, Chesapeake complex manager, said the firm’s platform and product suite continue to draw growing teams: “The firm’s reputation along with its platform, products and services all resonate with growing teams as they look to best serve clients, making us a destination of choice.”

RJA has announced a $700 million advisor team had joined the firm earlier this week, the second in as many weeks to join the firm managing that amount.

Ameriprise welcomes back $193M Florida advisor after six years away

Ricardo Baptiste, CFP, has rejoined Ameriprise Financial (NYSE: AMP) in Plantation, Florida, after a six-year stint at Raymond James. Baptiste, who spent 23 years at Ameriprise before departing in 2020, returns to the firm’s independent channel with $193 million in client assets under his practice, Wealth Investment Group.

Baptiste is joined by Financial Planning Assistant Zachary Rosen and Client Service Specialist Josie Felix. His return is supported locally by Franchise Field Vice President Sabrina Sabate and Regional Vice President Michael Barker.

“My experience away reinforced what I value about Ameriprise and what’s important to me in a long-term partner for my practice,” Baptiste said. “I knew I needed a firm that shared my commitment to comprehensive financial planning, independence, advisor success, and an elevated client experience.”

Baptiste cited financial planning capabilities, technology and an advisor-centric leadership team as key factors in his decision to return. Ameriprise has drawn approximately 1,700 experienced advisors to its platform over the last five years, according to the firm.

“When accomplished advisors like Ricardo choose to return to Ameriprise, it reinforces what makes our firm distinctive,” said Sabate. “We combine industry-leading financial planning capabilities with a culture that supports advisor growth and puts clients at the center of everything we do.”

Ameriprise CEO Jim Cracchiolo, made it clear last week that the company had not designed a broad-based bonus pool or plan for the firm to hang onto or retain its 10,000 advisors, contrary to prior industry reports and industry analysis.

Cetera recruits $450M Northwestern Mutual team in Buffalo

Cetera Financial Group has welcomed Primacy Financial, a nine-member wealth management team led by Founding Partner Ryan P. O’Connor, CFP, based in the Buffalo, New York area.

The team, which joins from Northwestern Mutual, oversees approximately $450 million in assets under administration (AUA) and joins Cetera through its Cetera Financial Specialists community, aligning with enterprise-level independent office Patriot Financial Group.

Joining O’Connor are Founding Partner Christopher J. Williams, CFP; Principal Owner Tony Blasting, CFP; and Deanna M. McCarthy, Partner and Chief Operating Officer. The team also includes Sean Thompson, CFA, as Chief Investment Officer, alongside five additional specialists covering client services, employer and participant operations, insurance and wealth management advisory roles.

Primacy Financial primarily serves business owners, physicians and medical professionals, as well as individuals nearing or in retirement, with specializations in business succession planning, tax-efficient investing and multigenerational wealth transfer.

“Our firm’s name is Primacy because we put clients first, and we pursue client services in a bold way,” O’Connor said. “We chose Cetera because of what we believe makes them unique – their focus on advisor growth, and their willingness to trust advisors and their decisions about the best way to run their business.”

O’Connor noted that moving to Cetera gives his team greater flexibility to maintain a larger-than-typical support staff. As of June 30, 2026, Cetera firms reported approximately $688 billion in assets under administration and $330 billion in assets under management, according to the company.

Andy Watts, Cetera Tax Channel Leader, said the team’s client-first structure stood out: “Ryan and his team relentlessly put clients first, and that shows up across their firm, from how they’ve structured their team to the depth of specialties they bring to the table.”

Cetera CEO Mike Durbin said earlier this year that recruiting advisors is strong but remains expensive.

The latest advisor recruiting news and firm moves coverage at InvestmentNews reflects a broader industry pattern: experienced teams with established books of business are increasingly leveraging competitive recruiting markets to shift to platforms offering greater independence and growth resources.