Raymond James reels in 5 advisors with $839M
Raymond James has long been among the industry's most aggressive recruiters — and wirehouse advisors keep bolting to join their ranks.
James Ducharme, Michael Rowland, Julius Eldridge, Jason Newton and Robb Sasser made the move to the regional broker-dealer's employee channel, Raymond James & Associates.
Ducharme and Rowland, who operate under the name the Rowland-Ducharme Wealth Management Group left UBS to join Raymond James in Melbourne, Florida last October.
Eldridge, Newton and Sasser, who operate as the Crescent Advisory Partners, joined the broker-dealer at its Florence, South Carolina location in January from Wells Fargo .
Combined, the two teams oversaw $839 million in client assets.
Recently, Wells Fargo's ranks have suffered at the hands of the regional broker-dealer. The wirehouse lost a heavyweight $800 million team in Salt Lake City in November.
A Spokeswoman from Wells Fargo declined comment on the moves and a spokeswoman from UBS didn’t reply to requests for comment.
Raymond James is an aggressive recruiter. The St. Petersburg, Florida-based firm has more than 8,000 independent and employee advisors and total client assets of approximately $876 billion.
Ducharme has 23 years of experience. He first got his start at Dean Witter Reynolds, then spent nearly 20 years at UBS before joining Raymond James, according to FINRA BrokerCheck .
Michael Rowland has 11 years of experience and is making a return to Raymond James & Associates, which is where he got his start before joining UBS for nine years, according to BrokerCheck records.
Eldridge has spent the entirety of his 19 years of experience at Wells Fargo — getting his start at Wachovia Securities before it merged with the wirehouse. Newton, who has 17 years of experience, also cut his teeth at Wachovia and spent three years at Uvest Financial Services before rejoining Wells Fargo for 13 years, according to BrokerCheck records.
Sasser has 23 years of experience. He started his career at First Union Brokerage Services, according to BrokerCheck records. He spent 19 years at Wells Fargo before making the move to Raymond James.