Advisors on the Move: Raymond James Snags $2.5M Team
Raymond James lands a $2.5 million team while Dynasty nabs two teams from Merrill Lynch. Here's a roundup of some of the most recent moves among independent financial advisors.
Advisors Nick Salvetti, CFP, and A.J. Salvetti, CFP, along with senior client services associate Patti Pedrucci, will join Raymond James Financial Services, the firmís independent broker-dealer. The team operates as the Salvetti Group Family Wealth Advisors, with offices in Stockton and Sacramento, Calif. The Salvetti brothers come from Merrill Lynch where they had $1.1 million in production and almost $210 million in client assets.
Raymond James grabbed a Wells Fargo advisor-team with $2.5 million in production for its independent broker-dealer channel.
Advisors Luke Kuchenberg, CFP, and Tyson Ray, CFP, will join Raymond James in Lake Geneva, Wis. The two advisors managed $220 in client assets while at Wells Fargo.
We are delighted to welcome Tyson and Luke to Raymond James, Scott Curtis, president of Raymond James Financial Services, said in a statement.
For some advisors, becoming an independent business owner fulfills a career objective. Iím pleased they decided to partner with Raymond James and look forward to supporting their continued growth and success.
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Raymond James Poaches More Wirehouse Talent
Two Merrill Lynch teams in Portland, Ore., have joined forces and landed on the Dynasty Financial Partners platform.
Advisors David Christian and Jeffrey Krum have joined forces with Brian Hefele and his team to launch Cable Hill Partners. The two teams advised on more than $700 million in client assets while at Merrill Lynch.
Dynasty president and chief executive Shirl Penney expects more wirehouse advisors to come.
We're seeing more inquiries like this, Penney says.
As the opportunity presents itself, we think more teams will see the advantage of joining to achieve scale, size and get more bang for their buck. There's already more in the pipeline.
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Merrill Breakaways Team Up to Partner With Dynasty
The American College of Financial Services has added an industry leader to its board.
Ron Carson, founder and CEO of Carson Wealth Management Group, Peak Advisor Alliance and Carson Institutional Alliance and a winner of Financial Planningís 2013 Influencer award, has been appointed to the board of trustees for a three-year term.
Mike Davidson, acting president of the American College said in a statement,
Ronís efforts in our industry are no small feat. His energy and passion for the success of our students and the next generation of advisors will be a welcome addition to the Board.
Woodbury Financial, one of four independent broker-dealers within Advisor Group, has a new chief executive.
The Oakdale, Minn.- based firm, which has nearly 1,200 independent representatives throughout the U.S., announced that Rick Fergesen has been named its new president and CEO. Fergesen was previously Woodbury's executive vice president for business and field development. He replaces Patrick McEvoy, who resigned in December.
Rick's demonstrated capabilities, his knowledge of Woodbury Financialís culture, employees, and advisors, and his insights into the independent broker-dealer industry make him an excellent choice to lead Woodbury Financial into the future, Erica McGinnis, who was tapped as Advisor Group's new president and CEO last October, said in a statement.
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New CEO for Woodbury Financial
Hilary Jones Rojo has become a registered representative with Securities America, an independent-broker dealer in La Vista, Neb. Rojo joined Verus Capital Partners, a branch of Securities America, from Wells Fargo Advisors where she assisted clients from nine different branches.
Going independent allows me to develop deeper relationships with my clients, she says.
I really like the feel of an independent broker-dealer, with enough sophistication and support from both Securities America and my managing principal.
President Obama has appointed Robert Glovsky, vice chair of the Colony Group, to the Presidentís Advisory Council on Financial Capability for Young Americans. Glovsky is currently the only practicing advisor appointed to the bipartisan council which will advise the President and Secretary of the Treasury on how to promote and build financial capability among young Americans.
I am honored to have been appointed by President Obama to this Advisory Council and to have the opportunity to educate our countryís youth on important financial issues, he said.
TD Wealth Private Client Group has appointed John J. Watson (pictured above) as wealth market leader for the Southern and Costal New Jersey markets and added four veteran advisors Ė James H Beam Jr., Adam E. Bracy, John L. Hall and Nicholas C. Rounds Ė to the region.
Watson will be responsible for managing the team and growing TDís regional wealth management business.
The Southern and Coastal New Jersey regions are very important to us, and the market also serves as home to our U.S. corporate headquarters, says Sherry A. Varrelman, senior vice president and regional wealth leader for Metro Pennsylvania & New Jersey at TD Wealth.
Derrick Chandler is now a principal of the independent fee-only firm Moisand Fitzgerald Tamayo based in Maitland, Fla. Chandler has been with the firm since 2003.
Our clients are relying on us to serve their families for generations to come. Derrickís addition to the leadership team as an owner will help make this possible, says firm principal Ron Tamayo.
Convergent Wealth Advisors has named Maurice
Mo Curran as a director of referral network development in the firmís New York City office. Curran has a background in business development, previously working at Gerson Lehrman Group and Credit Suisse Asset Management.
In his new position, Curran will focus on building and fostering relationships to drive Convergentís wealth management business strategy in the greater New York metro area.
New York is a highly competitive market, and to have someone as driven as Mo on the team aims to ensure Convergentís leadership in this area of wealth management. We believe he will thrive in the firmís entrepreneurial culture and contribute significantly to our growth potential, says Convergent CEO Dave Zier.