LPL Financial and Raymond James have each added veteran advisory teams, together overseeing roughly $590 million in client assets, in the latest sign of sustained recruiting momentum across the independent broker-dealer space.
In the first move, Paul McCutchen and Jarod Wesson, who previously operated under Edward Jones, have affiliated with LPL Financial. The pair managed approximately $190 million in advisory, brokerage, and retirement plan assets at their former firm. They will now run McCutchen Wesson Wealth Advisors from Marion, Arkansas, a Memphis suburb, and bring more than three decades of combined industry experience.
Their practice serves a mix of business owners, retirees, multigenerational families, and professionals across the Mid-South, with a particular focus on farmers and agriculture-related enterprises. That regional specialization, along with a hands-on approach to client service, drove their decision to seek a more flexible platform. Marc Cohen, LPL's chief growth officer, said the firm is "excited to welcome McCutchen Wesson Wealth Advisors to LPL and support their growth with the flexibility, planning capabilities and expanded resources that allow advisors to serve clients on their own terms."
Separately, Raymond James & Associates has recruited Adam E. Pearsall, a certified financial planner who previously spent more than 26 years at UBS Financial Services. Pearsall managed over $400 million in client assets at UBS and will now lead Pearsall Wealth Management of Raymond James in Glens Falls, New York. He will be supported by practice business manager Melissa Battiste and client service associate Tara Johnson.
Pearsall holds the CFP designation and earned his undergraduate degree from Colby College. He has been named to the Forbes Best-in-State Wealth Advisor list for five consecutive years, including 2026. In a statement, he cited Raymond James' culture and its investment in technology as key factors in his decision to move.
Kelly Anderson, Northeast division director for Raymond James & Associates, said the addition strengthens the firm's footprint in a high-growth region. "Adam makes a welcome addition to our growing presence in the Capital Region, which is one of the most vibrant and attractive growth markets in the Northeast," Anderson said. "Our continued investment in Saratoga Springs, Latham and now Glens Falls reflects our confidence in this community."
The moves come amid a broader wave of advisor recruiting. Earlier this year, LPL, Cetera, Raymond James, and NewEdge Wealth collectively added advisors managing $634 million, and LPL recently attracted a $1.4 billion team from Cambridge. The trend underscores the appeal of independent platforms that offer greater flexibility and technology support.
For advisors like Pearsall, the shift to Raymond James also reflects a desire for a more collaborative environment. The firm has been expanding its presence in upstate New York, and the addition of Pearsall is expected to bolster its capabilities in the region.
As the competition for top talent intensifies, firms are increasingly using recruiting as a growth strategy. The latest hires at LPL and Raymond James highlight the continued draw of independent models, which allow advisors to tailor their practices while leveraging the resources of larger organizations.
