Ameriprise picks up $139M advisor discharged by Raymond James
A Raymond James advisor let go over unit investment-trust sales issues has landed at Ameriprise.
Timothy Dijak, an advisor of 34 years with no client complaints listed on his FINRA BrokerCheck record, managed $139 million, according to Ameriprise.
Raymond James listed the reason on BrokerCheck for cutting ties as: “Discharged due to concerns relating to the nature of advisor's UIT activity.”
A spokeswoman for Ameriprise declined to comment on the nature of his departure from Raymond James. Dijak could not be reached for comment.
Dijak is one of five advisors who parted ways this month with Raymond James & Associates, the firm’s employee broker-dealer. The other four brokers moved to Stifel Financial. Three of those four advisors were discharged by Raymond James over UIT sales, which have come under regulatory scrutiny in recent years. The reasons lists on BrokerCheck were identical to that of Dijak.
Only one of the advisors had any client complaints listed on BrokerCheck and those dated to the 1980s.
A Raymond James spokeswoman declined to comment on the departure of Dijak, who is based in Saginaw, Michigan.
In joining Ameriprise, Dijak is following in the footsteps of his older brother Daniel, who quit Raymond James to join Ameriprise in 2012.
The brothers work in different channels, Timothy on the independent side and Daniel on the employee side, according to Ameriprise.