Recruiting continues to be on a roll in '16.

The employee channel of Raymond James (RJF) continues its expansion in the West by bringing in David Richman to head its San Diego location. On the East Coast, it recruited a former Morgan Stanley (MS) team in Boston.

Richman, senior vice president, investments and San Diego branch manager, joined after he spent nearly 20 years with Morgan Stanley, where he was most recently a complex manager in Pasadena and then North Orange County, and later took on several other roles at different firms. In his last post with the wirehouse, he supervised more than 150 financial advisors and support staff with about $8 billion in assets and $110 million in annual fees & commissions.

Between leaving Morgan Stanley and joining Raymond James, Richman joined hybrid RIA Washington Wealth Management in 2013 and then started his own business, Middleview Consulting, which focused on recruiting, executive coaching and business development services.

At Raymond James’ office in Boston, branch manager Peter Alberding says the group has welcomed the team of Robert Phinney, Graham Goodwin and Richard Byrd III. The three and their team now operate as Boston Capital Wealth Management of Raymond James; at Morgan Stanley, they managed about $332 million in client assets and had annual fees and commissions of roughly $2.8 million.

LPL, Wells Fargo News

LPL Financial (LPLA) says that independent financial advisory firm Megent Financial, based in Orland Park, Illinois, has rejoined its broker-dealer platform. The firm was originally on LPL’s broker-dealer platform from 2001 to 2012.

Megent, which provides commission- and fee-based investment services to union-sponsored retirement plan participants, will conduct its fee-based advisory business through the registered investment advisor (RIA) of Opus Wealth Management Group, which is on LPL’s hybrid RIA platform. Megent’s nine financial advisors served approximately $450 million of brokerage and advisory assets as of April 7.

Another firm moving to a new broker-dealer is Columbia, Maryland-based Keeney Financial Group, which recently left LPL for Triad Advisors Inc.’s broker-dealer and hybrid RIA multi-custodial platform. Keeney brings $350 million in client assets, as of March; the assets are split approximately evenly between fee-based advisory and brokerage accounts.

Triad, a wholly owned subsidiary of Ladenburg Thalmann Financial Services (LTS), is an independent broker-dealer supporting independent hybrid financial advisory practices and RIA firms.

In a move to provide executive leadership coaching to the next generation of family business leaders, Abbot Downing has brought in Nancy Amick to its family dynamics and education practice.

Abbot Downing is a boutique business within Wells Fargo’s (WFC) wealth and investment management group; Amick joined Wells Fargo in 1998, and most recently served as head of organizational effectiveness and development for the firm’s wealth and investment management division.

Snowden Lane, Additional Developments

Snowden Lane Partners has announced the formation of the Veritas Private Wealth Group—a merger of Joseph Hubbell’s $100-million practice with Snowden Lane’s Pedrena Group, composed of partners and managing directors Jesse Clinton and Phil Pedrena.

Hubbell, now a partner and managing director at Snowden Lane’s New York headquarters, joined from Bank of America-Merrill Lynch. Veritas will serve more than $370 million in client assets.

Advisor Partners has welcomed Scott Ruddick as managing director. Ruddick, most recently managing director of business development for North America at Mellon Capital Management, will be based in the firm’s Boston office.

And financial technology company and RIA BondWave has a new chief executive officer. Michael Ruvo, who will retain his current position as president, has also been appointed CEO of the firm.

Ruvo joined BondWave in 2013, hired as part of a long-term plan to succeed Russ Graham as CEO. Graham, who has served as CEO for 15 years, will rejoin BondWave’s parent company First Trust Portfolios L.P. and work with them full time.

— Read the May 11 Recruiting Roundup at ThinkAdvisor.