Raymond James (RJF) said Monday it recruited an advisor from UBS (UBS) with $1.1 million in production and about $120 million in client assets in Louisville, Kentucky. This follows Friday’s news that it added a team in Manchester Village, Vermont, that used to be with RBC Wealth Management and has some $185 million in assets.
In other news Monday, Bridgewater Wealth & Financial Management, affiliated with Focus Financial, said it added advisor Nina Mitchell to its roster. Mitchell has $200 million in assets under management.
Raymond James’ latest recruits — Patrick Yates, Katherine Traver and Michael J. Gardner — have joined its employee broker-dealer, Raymond James & Associates. Yates came on board in Louisville, after spending 12 years at UBS. He began his financial-services career in 1985 with Pruco Securities and later spent 11 years with Morgan Stanley.
“Patrick’s genuine care for his clients and proven dedication to helping them meet their financial goals are qualities we value here at Raymond James,” said Van Thompson, southern regional director for RJA, in a press release. “We are delighted to welcome such a well-established team to our firm and the Louisville branch.”
“Our team is thrilled to be with Raymond James,” added Yates, in a statement. “We wanted a firm that stood out from the rest, and in this market that firm is Raymond James.”
On Friday, Raymond James said it added Traver and Gardner to open its first Vermont branch, according to Dominic Prioli, director of the Great Lakes region of RJA. Both Traver and Gardner held positions at A.G. Edwards and most recently were with RBC.
“We are pleased to have attracted such talented advisors as Katherine and Michael to Raymond James,” said Prioli, in a press release. “They are an outstanding team that will be a great asset to Raymond James as we continue to expand our presence in the Northeast.”
Traver is an industry veteran with more than 30 years of experience, while Gardner has been in the field for 11 years. “Having been former A.G. Edwards advisors and after a few previous rounds of being owned by a bank, we were excited to join a firm that places such a great focus on its wealth management/private client business,” said Traver in a statement. “Raymond James has a great reputation, and we look forward to further expanding our wide-ranging client base and significantly growing our Manchester Village office with the firm’s support.”