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Raymond James branch manager departs for Wunderlich

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Wunderlich Securities hired a veteran branch manager from Raymond James & Associates, a spokesman said.

Michel Rittenberg, will oversee five advisers managing $280 million in AUM out of Wunderlich's Miami office, according to the firm.

Plus, Benjamin F. Edwards and Ameriprise each add recruits with more than $600M in combined AUM, and Morgan loses a $500M group.
August 22

Rittenberg had been with Raymond James since 2013, when the firm acquired Morgan Keegan, where he served as a branch manager from 2005 to 2012.

Jim Parrish, president of Wunderlich's Wealth Management division, also previously worked at Morgan Keegan where he had first gotten to know Rittenberg. Parrish, citing Rittenberg's experience, said that Wunderlich's newest hire would expand the firm's presence in Miami and Coral Gables, a wealthy suburb.

"Having previously been colleagues at Morgan Keegan for many years, I know that his positive management style and ability to help elevate advisers' careers will be a tremendous asset to Wunderlich," Parrish said in a statement.

Rittenberg will be overseeing a branch office that Wunderlich picked up as part of its acquisition in 2015 of Dominick & Dominick, a New York-based brokerage firm.

Rittenberg started his career at Merrill Lynch in 1980, according to FINRA BrokerCheck records.

Wunderlich, which is based in Memphis, Tenn., operates 25 offices in 17 states, according to the firm.

A spokeswoman for Raymond James declined to comment.

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