Close Close
ThinkAdvisor

Industry Spotlight > Broker Dealers

Raymond James, Ameriprise Add Teams in Midwest

X
Your article was successfully shared with the contacts you provided.

In their final recruiting push of the year, two broker-dealers say they added teams from rivals earlier in December.

Raymond James (RJF) said Tuesday that it added a team of three advisors formerly with Wells Fargo (WFC) and JPMorgan (JPM) with about $110 million in client assets and over $850,000 in yearly fees and commissions in Schaumburg, Illinois. Meanwhile, Ameriprise Financial (AMP) brought on four advisors from US Bancorp (USB) with roughly $280 million of client assets in Iowa and Minnesota.

The advisors who recently moved to Raymond James’ employee channel are John (Jef) Fitch, CFP; Marsha Werner, CFP; and Pamela Appell, CFA. The team does business as Braehead Wealth Advisors of Raymond James.

“They are an exceptional team, truly dedicated to putting their clients first – a value we share here at Raymond James,” said John Kuklenski, director for Raymond James & Associates’ northern division, in a statement. “We are thrilled they chose our firm to support their clients and practice.”

Fitch cut his teeth as an advisor at Paine Webber before joining Wells Fargo, while Appell worked for State Street Bank, Northern Trust and then Wells Fargo. Werner was with Smith Barney and later moved to JPMorgan to work as a private banker.

“There were several attributes that attracted us to Raymond James,” Fitch explained in a press release. “Above all, we were pleased that Raymond James’ core focus remains on its wealth management business. It was important for us to find a firm that focuses on the private client, but still offers the broad array of products and services that we and our clients need. After much due diligence, we found Raymond James to be the best fit.”

Ameriprise News

Ameriprise Financial says three of its latest hires have formed a team practice in Dubuque, Iowa: Mark Frederick, Timothy Breitfelder and Larry Eggers. Meanwhile, Brook Staples is now an advisor with Ameriprise in New Brighton, Minnesota. (All four reps joined Amerirpise’ independent-advisor channel from US Bank.)

The Frederick team had been with LPL Financial (LPLA) prior to joining US Bank.

“After considering many other firms, we decided to join Ameriprise because of the firm’s focus on providing an excellent client experience through financial planning,” Frederick said in a statement. “This focus was a priority for us, but we also wanted to tap into Ameriprise’s integrated technology capabilities to help us grow our practice.”

— Check out Raymond James Adds 8 Advisors; Margaret Towle Joins Merrill on ThinkAdvisor.