Winthrop & Co. · Where advisors go
Where advisors go
Every profile follows the same eight sections in the same order: what the firm is, how an advisor affiliates, the economics as publicly reported, Protocol status, who moved there this year from registration records, who tends to fit, the twelve diligence questions applied, and the sources. No rankings. Which firm is right is a question about your practice, and the pages are built to show you exactly which questions only a conversation can answer. The firms profiled are the large independent broker-dealers where most moving advisors land; each profile says which channels the firm runs.
Minneapolis, Minnesota·Independent broker-dealer
Ameriprise Financial
Ameriprise Financial is a publicly traded wealth manager with more than 10,500 financial advisors at the end of 2025, organized into an employee channel, the Ameriprise Advisor Group, and an independent franchise channel, the Ameriprise Franchise Group, plus a program for banks and credit unions. An advisor affiliates as a W-2 employee or as an independent franchisee who owns the practice and operates under the Ameriprise name.
1099 franchisee, owns the practiceW-2 employee1099, independentBank and credit union programs10,500+Advisors, year-end 2025304Departed, H1 20268/12Asked in the roomSan Diego, California·Independent broker-dealer
LPL Financial
LPL Financial is a publicly traded independent broker-dealer and RIA custodian that served 32,475 advisors as of June 30, 2026. An advisor can affiliate as an independent contractor under LPL's corporate RIA or their own, as a supported-independence practice through Strategic Wealth, or as a W-2 employee through Linsco, and LPL recruited $25 billion of assets in the second quarter of 2026 alone.
1099, own practice1099, supported independenceW-2 employeeBank and credit union programs1,100Joined, H1 2026+482Net, H1 20267/12Asked in the roomScottsdale, Arizona·Independent broker-dealer
Osaic
Osaic is a privately held network of broker-dealers and registered investment advisers, owned by Reverence Capital Partners, that supports more than 11,000 financial professionals and over $700 billion in assets under administration after consolidating eight Advisor Group broker-dealers into one firm and acquiring Lincoln Financial's wealth business. An advisor affiliates as an independent 1099 practice, as a W-2 employee of Osaic's corporate RIA, as a fee-only RIA, or through a bank or credit union program.
1099, own practiceW-2, Osaic corporate RIARIA, no brokerageBank and credit union programs11,000+Financial professionals254Departed, H1 20268/12Asked in the roomSt. Petersburg, Florida·Broker-dealer and RIA custodian
Raymond James
Raymond James is a publicly traded financial services firm whose Private Client Group had 8,943 financial advisors at September 30, 2025, split between an employee channel, Raymond James & Associates, and an independent contractor channel, Raymond James Financial Services, with a separate RIA and custody services arm for advisors who own their registration. An advisor affiliates as a W-2 employee, as a 1099 independent, or as an RIA using Raymond James for custody.
W-2 employee1099 independent contractorOwn RIA, Raymond James custody340Joined, H1 2026+249Net, H1 20269/12Asked in the room
Where advisors go
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Profiles are added on movement and on merit. If your firm belongs on this list, request it and we will look at the record.
Request a profileWinthrop & Co. is compensated by firms when an advisor joins through us. The advisor never pays. We have working relationships with several of the firms profiled here, which is why every figure on these pages carries its source and why we do not rank firms. The right firm is a question about your practice, not a league table.