The recruiting of financial advisors is showing signs of weakness, during a turbulent time for the financial markets.
Raymond James (RJF), however, says that it attracted advisor Lorayne Fiorillo and her team from Wells Fargo Advisors (WFC).
The group moved to Raymond James’ employee channel in Manhattan, where it is poised to manage some $235 million in client assets and produce about $1.5 million in yearly fees and commissions.
“We are delighted to welcome Lorayne and her team to Raymond James, helping us continue to expand our presence in the important New York area market, particularly Manhattan,” said Tom Galvin, North Atlantic regional director for Raymond James & Associates, in a statement.
In 2012, Fiorillo was inducted into the Research magazine Advisor Hall of Fame. More recently, the New York Foundation for Eldercare honored her with its annual Margaret Tietz Leadership Award.