Osaic, Cetera and Raymond James add books from Equitable, Commonwealth and LPL

Cynthia Doussard brought Doussard Financial in Burlington, Washington, to Cetera's Summit Financial Networks community with about $235 million in assets under administration after 24 years at Commonwealth, according to Cetera's announcement. "If Commonwealth wouldn't have sold to LPL, I never would have left," Doussard said, a sentiment InvestmentNews says other Commonwealth-turned-Cetera advisors have voiced. Two support staffers joined her, and a third team member is studying for a securities license with the aim of becoming the practice's second advisor.

InvestmentNews reported that Michael Biggs left Equitable Advisors for Osaic with about $245 million in client assets, joined by executive assistant Sandra Ford. Biggs is based in Clarksville, Tennessee. His BrokerCheck record shows roughly 40 years in the industry, the last 12 at Equitable Advisors. He said independence decided the move. The publication described the hire as Osaic's first advisor addition for October.

Tom Shupe and Lindsey Cameron joined Raymond James Financial Services, the firm's independent advisor channel, operating as Dirigo Wealth Management in Oakland, Maine, with more than $170 million in client assets they managed at LPL. Client service associate Jillian Guizelinni Fortuna moved with them.

LPL projected in August that retention from the Commonwealth acquisition would climb to 90 percent, as this publication reported. The projection covers an entire acquired book, not individual practices.