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Raymond James snaps up $738M team from UBS

Raymond James & Associates hired six financial advisors from UBS, who collectively managed $738 million in client assets, according to the firm.

The move comes a week after the firm said it enticed two financial advisors away from Wells Fargo. Raymond James currently fields 7,815 independent and employee advisors, according to the company’s fourth quarter earnings report.

The regional firm’s newest hires include advisors John Schindler, Jeffrey Davies, Scott Bennett, Chuck Phillipson, Christian Allen and Austin Farah. They operate as Peninsula Wealth Management in Birmingham, Michigan.

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Schindler said they were attracted to Raymond James because of the company’s technology and product selection.

“In evaluating a potential move, we looked at several options for our clients and our business, and during our home office visit, it became evident that the culture and support at Raymond James are unparalleled,” Schindler said in a statement.

The following 17 teams oversaw about $75 billion in assets. The firms ending the year with prize recruits include a diverse cast: regional BDs, wirehouses, boutiques and RIAs.
December 14

Schindler, who spent 10 years at UBS, possesses 24 years of industry experience, according to FINRA BrokerCheck records. Before UBS, he worked at Smith Barney and obtained his bachelor’s degree in business administration from Western Michigan, where he majored in Finance.

Bennett and Phillipson are also industry veterans, having started their careers in 1987 and 1995 at E.F. Hutton and Prudential, according to BrokerCheck. Davies, Farah and Allen got their starts in the business in 2011, 2013 and 2015, respectively.

Also moving with the team are senior registered client associates Farrah Brown, Yvonne Carver and Andrea Roll, client service associate Nathalie Tufenkjian and senior practice marketing associate Elizabeth Mabley.

A spokeswoman at UBS did not respond to request for a comment on the departure.

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