LPL snags $1.1 billion team from Raymond James

A team of retirement advisers in the Northwest with $1.1 billion of brokerage, advisory, and retirement plan assets has left Raymond James' independent broker-dealer network to work with LPL Financial. PacNorth Retirement Group of Spokane, Wash., moved on Friday from Raymond James to LPL and will use both its broker-dealer and corporate registered investment adviser, according to a statement on Tuesday by LPL. PacNorth Retirement Group is the result of combining two financial practices started in the 1970s: R.C. Roland, Chad Roland, Blair Roland and Gary Douvia of RDH Investments, and Garry Borders, Matt Borders and Joel White of Borders, White, & Tait. "We were impressed by LPL's capabilities and technology, and how the integrated platform can streamline and improve how we can work with clients," Mr. Roland said in a statement. A spokesperson for Raymond James Financial Services declined to comment. LPL has been aggressively recruiting brokers and financial advisers, adding $7.1 billion in recruited assets during the first quarter of the year. The firm has more than 16,000 brokers and advisers under its roof and reported $684 billion in brokerage and advisory assets at the end of March.