Raymond James, coming off one other report quarter for its wealth administration enterprise, has lured a giant crew from the previous Securian Monetary Providers to its unbiased channel.
The Summit Monetary Group in San Ramon, California, a crew of 16 advisors and 23 department professionals managing over $2.6 billion of shopper belongings, has joined Raymond James Monetary Providers, in response to a press release Monday from Raymond James. RJFS is the unbiased channel of St. Petersburg, Florida-based Raymond James. BrokerCheck records present the crew moved on May 31.
The announcement comes simply weeks after Cetera Monetary Group mentioned on Aug. 10 it had closed its deal to amass Securian’s retail wealth administration enterprise with roughly 1,000 advisors. After the deal’s announcement in January, Securian misplaced round 9% of these advisors main as much as the deal’s closure, though that was according to Cetera’s expectations, Barron’s reported. The embattled Securian had misplaced a number of managing companions and branches lately.
Learn extra: Cetera to amass Securian’s wealth enterprise with 1,000 monetary advisors
“I am proud that our suite of companies, analysis intelligence and tradition of independence at Raymond James continues to draw such high-caliber groups,” Invoice Counsman, director for the RJFS Western division, mentioned within the press launch of the transfer.
The Summit crew of advisors consists of Nathan Bennett, Steven Wilcox, Don Ledoux, Jay Gilson, Vanessa Savage, Gina Morais, Brendan Noonan, John O’Dea, Aaron Peabody, Michael Schomaker, Cody Smith, Jeneen Slack, Connor Merrigan, Kim Damiani, Sprint Grammer and Robert Avey.
Raymond James was chosen “due to its assets, client-first tradition, and the caliber of individuals in management,” Summit associate Bennett mentioned within the press launch. “The agency has the built-in expertise that enables us to serve shoppers at a excessive degree and the horsepower to assist ship options in essentially the most advanced monetary conditions.”