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Technology > Investment Platforms

Raymond James Adds 8 Advisors; Margaret Towle Joins Merrill

By Jada Smith

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Raymond James (RJF) said Wednesday that the largest credit union in Oregon will offer investment and wealth management services to its clients through its brokerage and investment services.

OnPoint Community Credit Union has more than 274,000 members and assets of $3.5 billion. Its investment-services team includes eight advisors, who manage close to $220 million in client assets.

“This transition to Raymond James gives our members even more options to help [clients] secure their financial future,” said OnPoint CEO and President Rob Stuart, in a press release. “With more robust offerings and added educational tools, this new relationship will provide our clients access to one of the most respected investment firms in the country.

OnPoint has branch locations in 13 counties in Oregon and two in Washington.

“It’s a pleasure to welcome OnPoint’s experienced investments team to our Financial Institutions Division,” said John Houston, managing director of the Financial Institutions Division of Raymond James, in a statement.

“We are delighted they chose to partner with us, and we look forward to providing the sophisticated products and services, the integrated technology and comprehensive support they need to continue to grow,” Houston explained.

Wirehouse Recruits

On Friday, Wells Fargo Advisors (WFC) said it added a team of two advisors from Bank of America-Merrill Lynch (BAC).

Financial advisors Alan Sylvestre and Caroline Wall are based in Mystic, Connecticut, where they manage more than $191 million in combined client assets.

The team members have a total of 28 years of industry experience. In 2014, President Barack Obama awarded Sylvestre the Presidential Volunteer Service award.

In Woodlands, Texas, advisor Trent Alton Birdsong joined Wells Fargo with more than $100 million of client assets. He previously worked for UBS Financial Services and has been in the business for 19 years.

On Thursday, Merrill Lynch Wealth Management said it welcomed Margaret Towle, Ph.D., to its Seattle Denali complex in Bainbridge Island, Washington.

“We are thrilled to have Dr. Towle join us and believe that her distinguished experience will further enhance our ability to serve high-net worth-families, endowments and foundations in the Pacific Northwest,” said complex director Michael Maroni, in a statement.

From 2011 to 2013, Towle was a partner and managing director with HighTower Advisors in Minneapolis and Bainbridge Island. Since 2009, she has been the editor in chief of The Journal of Investment Consulting.

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Towle was the subject of the June 2009 cover story in Boomer Market Advisor, a predecessor publication of ThinkAdvisor.

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