Raymond James Nabs $2M Wells Team; Securities America Affiliate Adds 2 Advisors

The ex-Wells team moves in Richmond, Va., while the new Arbor Point team transitions in Omaha

Left to right: Carlton Brown, Robert Wood Jr., Lola Wright and Robert Wood Left to right: Carlton Brown, Robert Wood Jr., Lola Wright and Robert Wood

Raymond James (RJF) said Wednesday that it recruited from Wells Fargo (WFC) a team of three advisors with yearly fees and commissions of about $2 million.

Robert Wood, Robert Wood Jr. and Carlton Brown, J.D., CFP, join the traditional employee broker-dealer of Raymond James in Richmond, Va. The group does business as Wood Asset Management of Raymond James.

“We are pleased to welcome Bob, Rob and Carlton to Raymond James,” said Richmond branch manager Clifford Foster in a statement. “They are an exceptional team. With years of experience, each advisor offers a unique perspective and expertise to their client base.”

Robert Wood has roughly 30 years of industry experience and was with Prudential Securities before moving to Wells Fargo. He and his son Rob formed their team in 1998 while affiliated with Prudential Securities.

“There were several aspects that attracted us to Raymond James,” said Bob in a statement. “Perhaps most important to us were the firm’s reputation and focus. There seems to be equal emphasis on supporting advisors as well as their clients, so we knew that dual focus would be of great value to us and our clients. Overall, the firm was the best fit for our vision and practice.”

A 30-year industry veteran and former estate planning attorney, Brown obtained his CFP in 1987.

Also on Wednesday, Fortress Wealth Advisors said it has recruited a team of two advisors with about $120 million of client assets: Thomas Kerins and Debra Hendrickson of Omaha.

Fortress founders Dana and Curren Webb say their firm now has about $200 million in client assets. Fortress, which opened in mid-January, conducts its advisory business with Arbor Point Advisors, a joint venture of Ladenburg Thalmann-owned (LTS) Securities America and NorthStar Financial Services.

“Seeing the growth Fortress Wealth has achieved in such a short amount of time is impressive,” said Curtis Reed, president of La Vista, Neb.-based Arbor Point Advisors, in a press release. “Being able to work with companies like Fortress Wealth highlights the possibilities for advisors seeking independence and partnership help on the regulatory and structural aspects of the business.”

Before joining Fortress, Kerins and Hendrickson were previously affiliated with Manarin Investment Counsel, an Omaha-based RIA.

 

 

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