Commonwealth Financial Network is seeing a steady stream of advisor departures following LPL Financial's $2.7 billion acquisition, with Kestra Financial emerging as the most aggressive recruiter.

Since the deal closed in early August, Kestra has added eight former Commonwealth practices from across the country. According to WealthManagement, the recruits include teams in Florida, Massachusetts, California, and Arizona, many of whom had longstanding ties to Commonwealth. Collectively, these groups represent a mix of multigenerational practices, wealth transition specialists, and large advisory teams that deepen Kestra's national footprint.

Kestra's haul includes notable firms such as Excella Wealth Consulting in Florida, The Wealth Transition Collective in Massachusetts, and Evergreen Financial Associates, which operates in both Arizona and New Jersey. Each team cited Kestra's platform flexibility and resources as factors in their decision to move.

Kestra CEO James Poer emphasized that the firm is not targeting Commonwealth specifically. "We focus on attracting well-established advisors who want to grow with a partner that gives them the freedom to serve clients on their own terms," Poer said in an interview with WealthManagement.

Other firms, including Raymond James, Cambridge Investment Research, and Arkadios Capital, have also recruited former Commonwealth advisors. Meanwhile, LPL has stated it expects to retain 90 percent of Commonwealth's advisors and is moving forward with full integration by late 2026. Still, Kestra's success underscores the competitive recruiting environment as advisors weigh their options during the transition.

Financial Advisor Transitions consults advisors nationwide to explore employment transition options and preserve and protect their practices in any transition they make.