LPL Financial saw some advisor turnover this week, picking up a pair of advisors from Raymond James but losing a practice to Commonwealth Financial Network.

Blake Henry and Laurel Jackson Callaway of Opelika, Ala.-based Railroad Investment Group — formed last year when the pair merged their practices — have joined LPL’s broker-dealer and corporate RIA platforms, LPL says in a press release.

They managed around $100 million at Raymond James, working primarily with mass affluent workers getting ready to retire, as well as with widows, divorcees and female business owners, according to LPL.

LPL has been mostly adding advisors over the past few weeks. Earlier this month it picked up a practice from a Blucora-aligned company, and another Blucora affiliate lost a practice to LPL in October. Since the end of the third quarter, which LPL ended with 188 more brokers than in the second quarter, LPL nabbed brokers from JPMorgan, Ameriprise, Cadaret, Grant and Lincoln Financial, as well as three broker-dealers on the Advisor Group network and a broker-dealer on the Ladenburg Thalmann network.

During the same period, LPL lost a few registered representatives to Ameriprise, Triad Advisors and Kestra Financial.

Commonwealth’s acquisition streak, although decidedly more modest in volume, continues unabated, meanwhile, with the addition of a wealth management firm previously affiliated with LPL Financial.

The Hanover, Mass.-based company BostonPremier Wealth includes partners Mark Bossey, a 22-year veteran of the financial services industry, and Ryan Marini, who’s been in the industry for 19 years, according to BrokerCheck, as well as financial advisors Joshua Grieves and Geoff McCarthy, of sister firm Peloton Wealth Management of Concord, Mass., according to a press release from Commonwealth. The team manages $225 million, Commonwealth says.

“I very much view Commonwealth as an extension of our firm,” Bossey says in the press release. “Commonwealth is a true partner for us, a resource that will add to the value that we bring to our clients every day. The firm’s proactive service model is personalized and customer-centric and will enable us to serve our clients more quickly and accurately.”

Earlier this month, Commonwealth added a Michigan-based wealth management practice formerly affiliated with MML Investors Services that oversees $220 million.


In October, Commonwealth added a practice managing $1 billion from Securian Financial Services and a $191 million firm previously aligned with Cetera Advisor Networks.

Founded in 1979, Commonwealth now supports around 1,950 independent financial advisors around the country, according to the press release.