B. Riley brings in $181M duo from Raymond James

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Two veteran advisors who managed $181 million in client assets joined B. Riley Wealth Management’s newly-opened branch in Devon, Pennsylvania, the firm’s first location in the state.

B. Riley hired the duo from the competition in the building next door— Raymond James & Associates. B. Riley’s new branch on 80 West Lancaster Avenue shares the street corner with the Raymond James office on 92 Lancaster Avenue, according to FINRA BrokerCheck records.

Regional broker-dealers, such as B. Riley and Raymond James, are vigorously recruiting advisors by offering new technology and more flexibility to manage their practice.

“Advisors across the country are responding to our boutique wealth management model where they can enjoy a small firm culture and a unique product mix with the valuable resources a large firm can provide,” Craig Pirtle, managing director of B. Riley, said in a statement.

The duo moving over to the new branch, Michael McCall and Michael Connelly, operate as the McCall Connelly Group. McCall pointed to the firm’s culture and investment offerings as reasons for making the move.

Connelly is an industry veteran of 36 years, having started his career at A.G. Edwards in 1982, according to FINRA Broker Check Records.

McCall, who also serves as branch manager, has more than 25 years of industry experience, according to BrokerCheck. Both advisors had worked at Raymond James for seven years.

Christin Hinckle, a portfolio manager, also joined the team at B. Riley.

B. Riley has over $10 billion in client assets and 175 advisors operating from 20 branch locations, according to the firm.

Raymond James confirmed the advisors’ departure and declined further comment.

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Recruiting Career moves Regional BDs B. Riley Financial Raymond James Financial