LPL Financial says it recently hired an executive from MarketCounsel and recruited a $400 million team from Cadaret Grant.

Marc Cohen joined the independent broker-dealer last week as senior vice president-Strategic Business Development. Earlier, he was the chief operating officer of MarketCounsel, a compliance and consulting firm, where he worked for over 12 years.

“We are excited to have someone with Marc’s background and industry experience join LPL,” according to the IBD. “He will be a great addition to our leadership team within Business Development.”

This week, LPL said Wellesley Financial Planners of Red Bank, New Jersey, moved to its hybrid platforms. The group is led by Greg Spicer, who started Wellesley in 1984; it now includes five advisors.

Spicer has been in the business for 37 years and spent the past 25 with Cadaret Grant, which has about 900 advisors and was bought by Atria Wealth Solutions with the backing of Lee Equity Partners in October.

“The industry is in a period of consolidation and acquisitions, and that can leave planners with a degree of uncertainty. We decided LPL was the best fit for our business, in part for its size and scale,” Spicer said in a statement.

Commonwealth Grabs LPL Team

Meanwhile, Commonwealth Financial Network says it recruited a team with $325 million in assets away from LPL in Oak Brook, Illinois: Daley Financial Partners, which includes Ursula Daley, Jordan Lewis and their team.

“In every interaction, we strive to empower our clients with knowledge and confidence, and we are so pleased to join the Commonwealth community of individuals who share those same fundamental objectives,” Daley said in a statement.

Daley has been in the business for 16 years, all of which she spent with LPL. Jordan has three years of industry experience.

“This powerful team of women has built a client base that they can relate to — much like how we selectively affiliate with advisors who align with our values,” according to Andrew Daniels, managing principal of business development for Commonwealth.