The advisors have formed Carmel Quintero Financial Services in Westlake, Ohio where they will offer securities through Raymond James Financial Services.
“We are very pleased to welcome this exceptional team to Raymond James,” Scott Curtis, president of Raymond James Financial Services, said in a statement. “Their valuable knowledge and years of experience make them a strong addition to the firm and demonstrate, once again, that our advisor-centric culture, broad platform and independence continue to appeal to some of the very best advisors in the industry.”
“Most importantly, they share our dedication to putting the needs of clients first,” he added.
The quartet is the latest in a string of MSSB defectors to join Raymond James.
“Several factors were important in making the decision to join Raymond James,” Todd Carmel said. “But most significant was the firm’s client-first culture. The appeal of being independent while serving our clients’ best interests was very compelling.”
“We spent a lot of time doing our due diligence, and we felt Raymond James offered us and our clients the best fit,” he added. “We like doing business with real people, we wanted to control the way we run our practice, and the firm reminded us of where we came from years ago.”
At MSSB, the Carmel Quintero team managed more than $400 million in client assets. Also coming aboard is registered sales assistant Debbie Marks.
A 60-year veteran of the industry, Bill Carmel began his career with Field Richards & Co. in Cleveland, Ohio. In 1964, he joined McDonald Investments, where from 1979 to1989 he served as chairman and CEO. In 2005, he joined Citigroup Smith Barney, which was later acquired by Morgan Stanley.
Todd and Donn Carmel both began their financial services careers when they joined their father at McDonald Investments in1995, later moving as a team to Citigroup Smith Barney in 2005.
Mario Quintero began his career as a financial advisor in 1986 with the Cleveland-based regional firm of Prescott, Ball & Turben, Inc. In 1988 he moved to Smith Barney and joined the Carmel team in 2006.
Carmel Quintero Financial Services offers high-net-worth individuals and families comprehensive financial planning, as well as insurance, investment and portfolio management services.
Larry Barrett writes for Financial Planning.