Two advisor teams overseeing a combined $1.51 billion in client assets switched platforms this week, with LPL Financial adding a Georgia-based planning practice from Wells Fargo's independent channel and Wells Fargo Advisors separately recruiting a multigenerational family team from UBS.
LPL announced Monday that Praxis Financial Partners, headquartered in Alpharetta, Georgia, has joined its broker-dealer and registered investment advisor platform. The firm brings roughly $1.1 billion in advisory, brokerage, and retirement plan assets, according to a company statement. Praxis previously operated under Wells Fargo Advisors Financial Network (FiNet), the firm's independent contractor channel.
Founded in 2013 by Scott Christian, a certified financial planner, and Cecil Loyd, a certified investment management analyst, Praxis derives its name from the Greek word for "process," reflecting a planning-first approach that has driven its growth. Jay Gentry, also a CIMA, joined in 2020 after two decades in asset management distribution, and Matt Dion arrived in 2024 with 15 years of advisory experience. The four-advisor team serves business owners, corporate retirees, executives, and multigenerational families across 24 states.
The team evaluated more than a dozen firms before choosing LPL, citing the platform's open architecture and technology flexibility as decisive factors. "The planning tools, flexibility and ability to create our own technology stack will help us continue delivering exceptional service while positioning the firm for future growth," Christian said in the announcement. Dion added that LPL's commitment to innovation and advisor-focused resources will allow the team to enhance the client experience without sacrificing personalized service.
The move preserves Praxis's independence and keeps future succession options open, a priority that has become increasingly important for advisors weighing platform changes. The practice is supported by a tenured team including Jody Smith, Zac Hirschler, Ashlyn Presley, Ellen Rick, Seleena Harris, and Parvathy Eashwaran. Marc Cohen, LPL's chief growth officer, said the firm was "honored" to support Praxis in its next chapter, highlighting the team's collaborative investment process and multigenerational client relationships.
In the same week that FiNet lost Praxis, Wells Fargo Advisors—the employee wirehouse channel—reported a gain. Andrew Strong, Jonathan Strong, and Christian Strong have joined as Strong Wealth Management Group, having managed approximately $410 million in assets under management at UBS. The team's move underscores the ongoing reshuffling of advisor talent across channels, a trend that has seen record numbers of advisors switch firms. According to industry data, advisor moves hit a record 11,172 in 2025, as noted in a recent report on client impact.
The dual moves highlight the competitive dynamics between independent and employee channels. LPL continues to attract large teams from FiNet, while Wells Fargo Advisors is also recruiting from wirehouse rivals like UBS. Recent examples include Wells Fargo FiNet adding a $1.3B UBS team and Raymond James, UBS, and Ameriprise recruiting $3.2B in advisor moves.
For advisors, the choice of platform increasingly hinges on technology flexibility, succession planning, and the ability to maintain independence. As the wealth management industry consolidates, firms that offer open architecture and customizable tools are gaining an edge in recruiting top talent. The moves also reflect broader trends in the $124 trillion wealth transfer, where trustee picks and charitable vehicles are becoming critical to client retention.
