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Raymond James lands 3 advisors with $330M in AUM

Wells Fargo, Edward Jones and AllianceBernstein have each lost an advisor to Raymond James, slightly boosting the latter's flat recruiting tally last quarter.

All three cited their new firm's culture as a central motivator in their separate decisions to change employers.

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

Michele Ing, a CFP who managed $120 million in client assets at Edward Jones in King City, California, said in a statement that attending the firm's conference for women advisors factored into her decision to leave Edward Jones after 14 years.

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“I witnessed firsthand the inclusive culture and access to leadership during the firm’s Women’s Symposium and again at my home office visit to St. Petersburg during my due diligence process," Ing said.

Joining her at Raymond James are Alicia Trujillo, office manager, and Christopher Cogar, client services manager.

Thad Ortez, of Modesto, California, spent 11 years with Wells Fargo, where he oversaw $100 million in assets from a niche group of local almond farmers. Modesto is known as the almond capital of the world.

"Having more control and ownership of my practice and the client experience was important to me,” Ortez said.

Before moving to Raymond James, advisor John-Peter Rockwell Curcio managed $110 million assets for clients at AllianceBernstein. The Atlanta-based advisor worked for AllianceBernstein for two years following 13 years with Sandler, O'Neil & Partners.

Curcio has joined Raymond James's Alex. Brown division.

“I found the boutique feel of Alex. Brown’s culture and the wide range of resources at Raymond James to be the best match for me and my clients,” he said.

Headcount at Raymond James rose just a net two advisors between the third and fourth quarters of 2018, to 7,815 (it was up 278 from the year-ago period). This after the firm announced at the end of September that it hit a record 7,813 independent and employee advisors, a net increase of 467 from the year-ago period and 94 from June.

Fewer new hires and an uptick in broker retirements and deaths — 65 in total — dampened growth, according to the company.

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