LPL Financial's recruiting efforts netted it several financial advisors who collectively oversaw more than $1.4 billion in client assets at Raymond James Financial and Northwestern Mutual, the company says.

Joining LPL from Raymond James Financial are financial advisors Jon Burnett, Dan Fowler, and Chad Carlile. The advisors operate separate practices in three locations in Texas: Amarillo, Lubbock, and Pampa. Their client rosters include farmers, ranchers, oil and gas professionals, business owners and multigenerational families. Together, the advisors served approximately $430 million in advisory, brokerage and retirement plan assets, LPL says.

For Burnett, this is his second tour at LPL; he was registered with the firm from 2012 to 2022, according to BrokerCheck, a public database maintained by industry self-regulatory organization Finra.

A representative for Raymond James didn't respond to a request for comment on the departures.

In Salt Lake City, LPL recruited financial advisor practices Cornerstone Advisors and Clear Pointe Wealth Management. Cornerstone Advisors is led by advisors Gardner Brown and Brian Lifferth, who have worked together since 2004, according to LPL. Clear Pointe is led by advisors Ron Hunt and Jonathan Groberg, who have worked together since 2005. The two teams oversaw a combined $1 billion in assets.

Both Cornerstone Advisors and Clear Pointe joined LPL from Northwestern Mutual. A representative for Northwestern Mutual didn't respond to a request about the teams' departures.

LPL is one of the nation's largest wealth management companies, having grown through aggressive advisor recruiting and acquisitions. The San Diego-based company says it supports more than 32,000 financial advisors and the wealth management practices of approximately 1,100 financial institutions. It has approximately $2.6 trillion in brokerage and advisory assets.

Advisors who join LPL's independent broker-dealer own their own practices and operate as 1099 contractors, relying on LPL to provide them with technology and a trading platform. LPL also offers advisors the ability to join as W-2 employees of the company.