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Recruiting Roundup: Raymond James Grabs $2M Team from Wells Fargo, Davenport

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Action is picking up in the recruiting arena as Raymond James (RJF) welcomed a $2 million team; Merrill Lynch brought in an international wealth strategist; an advisory firm joined Focus Financial Partners; and three other firms made executive additions recently.

Joining Raymond James is the Longleaf Wealth Advisory Group, made up of four financial advisors and three support staff members. The team will operate out of the Raleigh, North Carolina, office of the firm’s traditional employee broker-dealer–Raymond James & Associates–as well as in a satellite office in Smithfield.

The four advisors are William Wellons Jr., and Scott Abee, senior vice presidents, investments; James Forrester, associate vice president, investments; and John Robinson, financial advisor. Wellons and Forrester joined from Wells Fargo Advisors in Smithfield, and Abee and Robinson joined from Davenport & Company in Raleigh. Combined, the advisors managed almost $400 million in client assets and have over $2 million in annual fees and commissions.

“We are delighted to recruit and reunite these four exceptional advisors and their staff to Raymond James,” John Pace, complex manager in the Raleigh area, said in a statement. “Veteran advisor Billy Wellons mentored Scott Abee when they worked together back in the ’80s and ’90s before going their separate ways. We could not be more pleased to facilitate the reunification of this top-quality, client-focused team and welcome them to Raymond James. They will be a tremendous asset to our firm, and we are excited about what they bring to the Raleigh and Smithfield markets.”

Merrill Lynch, Focus Financial News

Merrill Lynch says Fabio Concesi has joined its Miami office as an international wealth strategist.

Concesi, who comes to the firm from Citibank, will be part of Merrill’s strategic wealth advisory group and report to Stacy Allred, head of the group. He will advise global clients throughout Latin America, both directly and through their international financial advisors within Merrill Lynch Wealth Management.

In July, Merrill Lynch announced that it would create a specialized team of financial advisors to advise clients with a specific focus on the ultra-high-net-worth segment in 29 countries. The international unit is being modeled on Merrill Lynch’s private banking and investment group, which focuses on serving clients with $10 million or more in investable assets.

Focus Financial Partners has welcomed New York-based registered investment advisory firm Douglas C. Lane & Associates.

The independent RIA, founded in 1994 by Douglas Lane, has 34 employees, and provides customized investment management services to clients in 47 states and 17 countries.

“While evaluating potential strategic partners, we found that Focus places the same emphasis as we do on valuing client relationships and achieving long-term growth,” Lane said in a statement. “While ensuring our continued independence, Focus has a proven track record of supporting entrepreneurially-minded firms like ours via M&A and value-add programs such as marketing, technology and operations. We are confident that the best interests of our clients will be safeguarded for years to come thanks to this new partnership with Focus.”

Executive Additions

RBC Wealth Management named Tim Grantham branch director of its Oklahoma City office, one of the firm’s eight offices in the Dallas executive complex. The firm has $273 billion in total client assets with 1,900 financial advisors operating in 200 locations in 41 states.

Grantham joined in Dallas last year from UBS, where he was a million-dollar producer and senior vice president. He has over 26 years of financial services experience.

La Vista, Nebraska-based Arbor Point Advisors, a joint venture between Securities America and NorthStar Financial Services Group, has added Scott Fangman as regional director.

Fangman has 15 years of experience in financial services, and has held positions in operations; mergers and acquisitions; management; and sales and recruiting.

Wealth management firm Homrich Berg, based in Atlanta, appointed Robin Aiken as principal for the firm, which manages over $4 billion for over 1,300 families.

Aiken joined in 2005 after working with an independent financial planning firm for eight years. She has over 15 years of wealth management experience focused on investment planning, retirement planning, cash flow analysis and income tax planning.

— Check out the Jan. 13 Recruiting Roundup on ThinkAdvisor.


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