Meanwhile, Raymond James’ (RJF) employee channel picked up a group from UBS with $300 million in AUM, while its independent channel added a former Merrill Lynch (BAC) duo with some $120 million in client assets.
Wells Fargo announced Tuesday that the Borgfeldt Group, led by financial advisor Nick Borgfeldt, joined its branch in South Hills, Pennsylvania, from Morgan Stanley, where he managed more than $176 million in client assets.
Borgfeldt has 37 years of industry experience and now reports to South Hills branch manager Troy Baer.
In Greensboro, N.C., advisors Larry Pulliam and Jeff Kerrigan moved to Wells Fargo from UBS, where they managed more than $165 million in combined client assets.
They team has 40 years of combined experience and reports to Greensboro complex manager William Spivey. They join with Pulliam’s son, Spencer, who plans to start Wells Fargo Advisors’ next-gen training program in September.
Raymond James’ New Reps
A team of three advisors — Alex Bryan, CFP; Ryan Bartley; and Robert Torney — are now part of Raymond James & Associates, the firm’s employee unit. They moved from UBS with more than $300 million in assets and annual fees & commissions of $2.2 million.
“We are excited to welcome Alex, Ryan and Robert to Raymond James,” said Dominic Prioli, Northern regional director for RJA, in a statement. “With almost 50 years of combined experience and commitment to a long-term, client-first approach, they are a great addition to our firm. We look forward to supporting them as they continue to grow their business and further our firm’s expansion in the Northeast.”
The reps will do business as Catamount Financial Advisors in Northern Vermont, where they recently opened up RJA’s first office in that part of the Northeast.