Raymond James has poached another UBS financial advisor, according to a press release from Raymond James.

Timothy Holcombe joins Raymond James & Associates, the firm’s traditional employee broker-dealer, in Alpharetta, Ga., the company says. Holcombe has been in the financial services industry for 26 years and had spent the last decade at UBS, according to the press release. He’s joined by his son, Perry Holcombe, who just started his financial services career and is currently in Raymond James’s Advisor Mastery Program, the company says. The pair operate as Holcombe Wealth Management, according to the press release.

“Raymond James understands that no one knows the client better than the advisor,” Tim Holcombe says in the press release. “The advisor-client relationship is a longstanding one, and they do everything they can to enhance that relationship.”

Last month, Raymond James nabbed a UBS financial advisor in Bloomfield Hills, Mich., who oversaw more than $100 million.

Raymond James has been on a relentless recruiting push over the past year, adding 467 advisors year over year as of the end of the latest quarter from various rivals, including Wells Fargo, Morgan Stanley and Ameriprise, among others. Its total advisor ranks stand at 7,813.

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Chalk Up One More Win for LPL Against Cetera

LPL Financial is on a roll luring financial advisors away from rival Cetera Financial Group, most recently snatching an advisor in New Jersey.

Mary Pascarella, founder of Parsippany, N.J.-based Perennial Financial Planning, joins LPL’s broker-dealer and corporate RIA platform, according to a press release from LPL.

She managed around $110 million at Cetera as of the end of September, LPL says.

“I have been in the business 27 years, always with the same partner,” Pascarella says in the press release. “But I believe it’s never too late in life to seek opportunity and make it part of the fiber of who you are. Being willing to adapt is important to stay relevant and serve the needs of my clients. I have a responsibility to bring the best resources and tools to the table for my clients. I believe LPL is the right partner to support my business and my clients.”

LPL has been going after Cetera’s advisors quite aggressively, offering a particularly lucrative signup offer in April aimed at advisors specifically at Cetera as well as Securities America and Kestra Financial. Last week, LPL poached a Cetera practice in Richmond, Va., that oversees $365 million.

And in October LPL nabbed an Illinois practice managing $3.7 billion and a Kentucky practice overseeing $180 million. Cetera, however, has had a few wins as well, poaching two LPL advisors in October.

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First Midwest Bancorp Acquiring $800M Wealth Management Practice

First Midwest Bancorp has signed a definitive agreement to acquire Northern Oak Wealth Management, according to a press release from First Midwest.

The Milwaukee-based RIA, which oversees around $800 million, will operate as a subsidiary of First Midwest, according to the press release. Northern Oak’s executive team of Mark Zellmer and David Becker will maintain their leadership roles at the firm, First Midwest says.

“We are excited to join First Midwest and look forward to leveraging their broad range of wealth management and banking products and services to create enhanced value for our clients,” Zellmer, Northern Oak’s chairman, says in the press release.

The acquisition, the terms of which the firms didn’t disclose, is expected to close in the first quarter of 2019, First Midwest says.

The company’s wealth management division oversees over $11 billion for clients across 30 states, First Midwest says.