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Industry Spotlight > Broker Dealers

Raymond James Grabs $120M Team From Merrill

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Raymond James (RJF) said it recruited a team of two female advisors from Bank of America-Merrill Lynch (BAC) with about $120 million in assets. The two reps, Kayla Koeber and Lori Baum, joined the firm’s independent channel in St. George, Utah, and will do business as Voyager Wealth Advisors.

“Upon meeting Kayla and Lori, it was clear they would be a great addition to the firm, as their client-first approach, integrity and guiding principles align with that of Raymond James,” said Bill Counsman, Western regional director for Raymond James Financial Services. “We are very happy they chose to partner with Raymond James as they build and grow their practice.”

Koeber, CFP and CIMA, began her financial services career at Merrill Lynch in 2000 after a 20-year career in the Southern California film and TV industry. According to Raymond James, Koeber found the firm’s Network for Women Advisors “to be a draw and looks forward to being a part of the network’s events and initiatives.”

“I always felt like we had the heart and soul of an independent planning practice, and in recent years realized we were with a very different company than the one with which we started,” said Koeber, in a statement. “Looking at the products, platforms and strides Raymond James has made with technology, we decided a move to independence and the ability to practice unimpeded at our highest, most ethical level would be a true win for our clients.

“What tipped the scale was a trip to the home office, where we experienced Raymond James’ culture firsthand,” she said.

Baum began her financial services career in 1989 at Piper Jaffray and moved to Merrill Lynch in 1994. She became a financial advisor and full partner in the practice in 2013.

The team says it relies on “a life first, planning-based approach to wealth management” and targets an affluent client base of active retirees in southern Utah.


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