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March 02, 2016 at 05:23 PM
Raymond James Financial (RJF) added advisors from the East and West recently, recruiting a new billion-dollar team in Pennsylvania and another in Hawaii. Both new groups joined the employee channel of Raymond James.
The team in Jenkintown, Pennsylvania team, now operating as Fernberger Fernberger Loeb Wealth Management of Raymond James, used to be part of Bank of America-Merrill Lynch (BAC).
Its financial advisors include David Loeb, Jr., Edward (Ted) Fernberger, Jr., Jim Fernberger and Alex Fernberger, who collectively have managed client assets of $1.3 billion and had about $7 million in total yearly fees and commissions.
“We selected Raymond James, after extensive due diligence,” Jim Fernberger said in a statement, “primarily because the firm provides the size, scale and national presence to support the needs of our clients. When you dovetail those attributes with a culture that is client-centric and focused on providing the highest level of service to clients, you arrive at Raymond James.”
In Honolulu, the Goeas Group of Raymond James came on board from Stifel Nicolaus (SF), where branch manager Larry Goeas and advisor Leo Goeas managed more than $1 billion in client assets and had roughly $1.25 million in annual production.
The Honolulu office is part of Raymond James’ westward expansion, it says.
“We are delighted to welcome the Goeas brothers Larry and Leo as the first advisors to join the Raymond James employee channel in Hawaii,” said Rick Sanchez, West Coast regional director for Raymond James & Associates, in a statement. “We anticipate growth in the islands both through the internal development of this team and by attracting new professionals to Raymond James. We look forward to continuing this momentum and growing the firm’s presence even further in the Hawaiian Islands as well as the Pacific region more broadly.”
Executive Moves
In other news, Raymond James Financial said Wednesday that it appointed Gavin Murrey as co-head of the firm’s Public Finance/Debt Investment Banking division in Memphis, Tennessee. Murrey is a senior managing director in the division and South Central region manager, a position he will retain.
