$1.6M UBS team jumps to Raymond James
Raymond James hired a team producing $1.6 million from UBS, the company said.
Advisers Harold MacFarland and Tadd Hicks joined the fast-growing firm's employee channel in St. Louis.
While at UBS, the pair, who operate as MacFarland Hicks Financial Group, oversaw $220 million in client assets, according to Raymond James.
MacFarland said that they felt the St. Petersburg, Florida-based firm would be a good fit for their practice due to factors such as its culture, as well as comprehensive financial planning services. He also said that they valued the firm's equity research given that the team has discretion for investments for many of their clients.
"But mostly, we are happy the firm is a U.S. based business focused on private clients and not a bank or insurance company with other priorities," MacFarland said in a statement.
MacFarland, a U.S. Air Force veteran, started his career at Thomson McKinnon Securities in 1987, according to FINRA BrokerCheck records and Raymond James. He later worked for Prudential as well as UBS.
Hicks started his career at PaineWebber in 1992, per BrokerCheck. He stayed with the firm through its acquisition by UBS.
Also moving to Raymond James is client service associate Margaret Noel.
A UBS spokesman declined to comment.