Recruiting Roundup: Raymond James Nabs $300M Wells Fargo Team

In recent recruiting news, Raymond James added a $300 million advisor team in Alabama and a $150 million firm in Tampa; Sandra Smith left MJ Whitman to join Ameriprise; and Commonwealth Financial Network welcomed AC Financial Partners.

In addition, Sandra Cho went to LPL Financial; the advisory firm of Patton, Albertson & Miller joined Focus Financial Partners; and D.B. Root & Co. went independent.

Raymond James Financial Services (RJF), the independent broker-dealer, has added the $300 million advisor team of Margaret Boyd and James “Beau” Boyd in Selma, Alabama, operating as the Boyd Financial Group. In addition, the team of Bijan Mohseni and David Townsend also brought their Tampa, Florida-based independent firm InvestPro Wealth Strategies to RJFS.

The Boyds and their team join from Wells Fargo Advisors (WFC), where they previously managed some $300 million in client assets and had annual fees and commissions of more than $2 million. Mohseni and Townsend and their team join from AXA Advisors, where they previously managed roughly $150 million in client assets.

Ameriprise Financial (AMP) has announced that Sandra Smith has joined the firm’s Midtown Manhattan employee office from MJ Whitman. She will report to Todd Hubley, branch manager.

Smith, who has been in the industry for 27 years, is expected to bring about $230 million in assets under management with her.

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