A team that generated over $1.4 million in annual revenue at Wells Fargo has left the firm to join Raymond James' employee channel, according to the firm.
Advisers George Bragaw III, William Weldon and Tara Orendorff will operate from two Raymond James offices in Washington and Baltimore, the firm says. The team, operating as WBO Capital Partners, reports to Warren Wright, Raymond James & Associates' Chesapeake complex manager.
The advisers managed more than $205 million in client assets, according to the firm.
Raymond James' latest hires are industry veterans. Bragaw started his advisory career in 1986 at Wheat First Securities, according to the firm. Through mergers and acquisitions, Wheat First ultimately became part of Wells Fargo Advisors. Weldon began his career in 1969 with Legg Mason, according to FINRA BrokerCheck records. He joined Bragaw at Wheat First in 1992.
Both advisers also held branch management roles at their previous employers, according to Raymond James.
Orendorff started her advisory career at Deutsche Bank in 2000, according to BrokerCheck records. She later worked at Wachovia and Wells Fargo.
Bragaw said in a statement that switching firms "was an incredibly difficult decision" for the team. "But after three mergers in 10 years, we recognized that the resulting firm was no longer a good fit for us."
Weldon said that Raymond James appealed to them because of its capabilities and its "tight-knit regional firm feel."
He added: "In the final analysis we asked ourselves, which organization is the best fit for our clients, and we believe we found the answer in Raymond James."
A spokeswoman for Wells Fargo confirmed the team's departure but declined to comment further.
Also moving with the team is Jeanne Chalfant, client service associate.
