Financial Advisors Have Shifted Between Major Firms
Several veteran financial advisors recently moved their practices to new firms amid industry-wide realignment.
Updated on Oct. 7, 2026 in Financial Planning
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Financial advisor Biggs has joined Osaic after 12 years with Equitable, while other advisors have transitioned to Cetera and Raymond James. These moves involve firms across the United States as professionals seek new technological and planning resources.
Why it matters
Advisors are moving to prioritize independence and access to robust home-office support in a rapidly consolidating wealth management sector. These transitions reflect a broader trend of professionals repositioning their businesses to better serve clients with updated tools.
Advisor Biggs brings $245 million in client assets to Osaic after a 40-year career. Meanwhile, the Dirigo Wealth Management team manages $170 million in assets, and advisor Doussard moved her practice after 24 years at Commonwealth.
The players
Osaic
Osaic is a large wealth management platform based in Scottsdale, Arizona, that provides technology and practice management resources to independent advisors.
Biggs
Biggs is a veteran financial advisor with 40 years of industry experience who recently managed $245 million in client assets.
Cynthia Doussard
Cynthia Doussard is a financial advisor with 30 years of industry experience who recently transitioned her practice to Cetera.
Dirigo Wealth Management
Dirigo Wealth Management is an advisory team based in Oakland, Maine, that currently manages $170 million in assets.
The details
Biggs joined the Scottsdale-based Osaic to utilize their specific technology and planning resources, citing independence as the primary factor for his departure from Equitable. Concurrently, other advisors moved to Raymond James for enhanced home office support, with Doussard opting to leave Commonwealth following its acquisition by LPL.
Timeline
Biggs joined Osaic in October 2026.
The announcement of these advisor moves occurred on October 7, 2026.
Market Dynamics
These transitions follow the documented trend of the acquisition of Commonwealth Financial Network by LPL Financial, which has served as a catalyst for advisors to seek new firms. This move underscores the ongoing structural consolidation within the independent advisor marketplace.
Clients of these advisors may see changes in the technology platforms used for their account management or potential updates to service offerings. It is recommended that investors review any transition notices to understand how these moves impact their specific financial planning services.
The takeaway
Advisors frequently change firms to secure better operational support and technological infrastructure for their clients. Investors should maintain communication with their advisors during transition periods to ensure continuity in their personal financial strategies.
Further reading
Learn more about the evolving landscape of advisor business models in our Financial Planning section.
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Do you trust that your financial advisor's firm change will result in better service for you?
