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Financial Planning > College Planning

Raymond James Nabs $80M Wells Team in California

By Janet Levaux

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Raymond James (RJF) said early Wednesday that its employee broker-dealer recruited a team from Wells Fargo Advisors (WFC).

David Neunuebel, CFP, and Lisa Barrantes join the firm in Santa Barbara with about $80 million in client assets and some $950,000 in yearly fees and commissions, according to Ron Goldman, acting branch manager.

“This new RJA office in Santa Barbara is one more illustration of our strategic plan to expand our footprint in the Western states,” said Tash Elwyn, president of the Raymond James & Associates Private Client Group, in a press release. “We look forward to attracting additional experienced financial advisors not just to this office, but to the other branches we have recently opened and have on the drawing board.”  

Neunuebel began his financial services career with Prudential Insurance in 1977 and became affiliated with Dean Witter and later Morgan Stanley (MS). In 2002, he joined Prudential Securities, which morphed into Wachovia and then Wells Fargo.

“We could not be more pleased to have David, Lisa and Lynne open our first RJA Santa Barbara office,” said Goldman, in a statement. ”They are located in the historic Granada Building on State Street and bring over 40 years of financial experience and expertise to serve key individuals of the city, business community and local families.”

In addition to his CFP, CLU, ChFC and CIMA credentials, Neuneubel holds the accredited domestic partner advisor (ADPA) designation from the College for Financial Planning, as well as the chartered advisor for senior living (CASL) designation from the American College.

“We not only traveled to the [Raymond James] home office where we met with several department heads and senior executives, but we also talked to many advisors who had left our former firm to join Raymond James,” said Neunuebel, in a press release. “And without exception they were thrilled with their decision. For us, the footing is now secure, the air is clear and we are free again to create and pursue the art of investing with our clients.”

Raised in Mexico City, Barrantes started in the business as a wire operator for Thomson McKinnon Securities in 1987 and later joined A.G. Edwards (later bought by Wells Fargo). In 2001, she moved to UBS and then joined Neunuebel at Wachovia in 2003, where she completed the financial advisor training program. In addition to her CRPC, ChFC and CLU credentials, Barrantes is currently studying for her CASL designation.

Two weeks ago, Raymond James recruited a father-and-son team in Chicago from JPMorgan Securities (JPM), where they have managed about $670 million in client assets and produced yearly fees and revenues of more than $4.2 million.

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