A team managing $250 million in client assets left Wells Fargo Advisors Financial Network to join Raymond James Financial Services, the firm's independent broker-dealer, a spokeswoman said.
Team members Keith Ferguson, his son, Allen Ferguson, Brian Davis and Brian Remson form an independent practice in Waco, Texas. They operate as Ferguson-Davis Wealth Management Group.
In explaining their switch to Raymond James, the elder Ferguson cited the "quality of the people." He said that his team was impressed during a visit to Raymond James' annual conference by the support that the firm and home office personnel offered.
A Wells Fargo spokeswoman could not be reached for comment.
Ferguson is an industry veteran, having started his career at Rotan Mosle in 1978, according to FINRA BrokerCheck records. In 1985, he joined A.G. Edwards and stayed with the firm following its merger with Wells Fargo. Ferguson had also served as a branch manager while at the wirehouse.
Davis joined Ferguson at A.G. Edwards in 1999, according to BrokerCheck records. In 2010, Remson started his career as an intern at Wells' Waco branch, according to a statement from Raymond James.
The team went independent with Wells Fargo's independent broker-dealer in 2011. The junior Ferguson joined the group in 2012 after previously working for Wells Fargo Advisors, the firm's employee channel, in Austin, Texas, according to Raymond James.
All four advisors are graduates of Baylor University, a private Christian university based in Waco.
Also moving with the team is Jamie Montgomery, registered sales assistant.
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