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LPL loses advisors with $460M in combined AUM to Raymond James

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Three advisors who managed $460 million in combined client assets joined the independent channel of Raymond James, the regional firm said.

Advisors Jason Croix, Michael MacRory and Jeffrey Shoop changed their affiliation from LPL Financial in July and August, FINRA BrokerCheck records show, and are operating in different locations across Texas, according to the company.

The three have a long work history together, having spent their entire careers at the same firms, according to Raymond James. They got their start in financial services at Edward Jones and all moved to LPL in the early 2000s.

The trio conducted due diligence on Raymond James as a group, says Kirk Bell, Central regional director, and found the firm’s research, technology, support and freedom to be the best for meeting future client needs.

Croix oversees about $235 million in client assets, and operates under Croix Wealth Management in El Campo, Texas. Joining him at Raymond James are Melissa Guttenberger, financial advisor, Kim Staff, client service manager, and Sherry Stanley and Sara Potts, client service associates, the firm said. Croix has 16 years of industry experience based on BrokerCheck records.

“We found the research and expertise at Raymond James to be superior,” said Croix, who also thought the firm’s welcoming and helpful culture was a key differentiator.

The largest teams to go indie this year managed more than $5 billion in client assets.
July 7

MacRory began his career in 1999 at Edward Jones, BrokerCheck shows. His Houston-based practice is known as Centre Wealth Management, which manages about $135 million in client assets, Raymond James said. Client service associate Carmen Laughlin and branch manager Haydee Miller will be moving with him.

For MacRory, Raymond James’ integrated platform is what really appealed to him because it combines trading support, research, retirement planning and other functions “all under one roof.” He is particularly looking forward to using the account aggregation tool, the advisor said.

Shoop operates under Shoop Financial Services, an independent firm in Center, Texas. He has about $96 million in AUM, and is the most senior of the three with 22 years of industry experience, according to BrokerCheck. Joining him are client service representatives Cheryl Green and Allison Sanford.

The St. Petersburg, Florida-based Raymond James is home to over 3,600 independent advisors and oversees approximately $600 billion in client assets, according to the firm.

An LPL spokeswoman could not immediately be reached for comment.

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