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Recruiting Roundup: Raymond James Adds $620M Bank Group, Advisor

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Raymond James (RJF) says it recently added a team to its financial institutions division and a wirehouse broker to its traditional employee channel.

The firm’s financial institutions division welcomed new affiliate Lakeland Financial Services, the investment and financial planning division of Lakeland Bank, which will offer investment and wealth management services to its clients through Raymond James Financial Services.

“As a local community bank, it is essential to have a competitive advantage to meet the financial needs of our customers,” said Lakeland Bank President & CEO Thomas J. Shara, in a statement. “We are excited about the expanded opportunities our partnership with Raymond James provides as it is one of the premier investment firms in America, and this partnership enables us to deliver investment, trust and financial solutions that rival the largest firms on Wall Street.”

Lakeland Financial Services includes executive vice president and program manager Jeff Buonforte and financial advisors Margaret Laquidara, Michael Gunza, Joseph Dolan and Jeff Beebe. The firm formerly partnered with Essex Securities and Pershing, and collectively manages roughly $350 million in consumer and business client assets.

“We are pleased to welcome the professionals at Lakeland Financial Services to our Financial Institutions Division,” explained the division’s managing director, John W. Houston, in a statement. “Their decision to partner with us is further proof that Raymond James’ resources and support continue to attract great bank advisors and investment programs.”

Also, financial advisor Mark Rubin joined the San Rafael, California office of Raymond James & Associates, the firm’s tradition employee broker-dealer. Rubin moved from Morgan Stanley, where he managed more than $270 million in client assets and had annual fees and commissions of over $1.8 million.

“We are delighted to welcome Mark and [sales associate Natasha Turner] to our San Rafael office,” said complex manager Nathan Clakley, in a statement. “His conservative values align closely with those of Raymond James, making him a great addition to our firm.

Rubin began his financial services career in 1991 at Shearson Lehman, which in 1993 became part of Citigroup’s Smith Barney unit, which became part of Morgan Stanley Smith Barney in 2009. Prior to being a financial advisor, Rubin spent 25 years managing Jewish community centers in New Jersey, Pittsburgh and San Francisco.

“I knew Raymond James was a client-first kind of firm, which is where we wanted to align our business,” said Rubin, in a statement. “Our goal is to have our clients say, ‘They are smart, honest and they care about us,’ so it seemed as though we could deliver on that goal best at Raymond James.”

Rubin works primarily as a portfolio manager with individuals and families both planning to retire and already in retirement. Raymond James opened its San Rafael office in April 2015.

“I was also very impressed with the accessibility and openness of the leadership at the firm, as well as its reputation in the area of mid-cap and small-cap equity research – which is important to us,” the advisor continued. “We like the fact that we can control our practice and that Raymond James has a bottom-up style of management.”

Morgan Stanley Recruits

Morgan Stanley (MS) added four new advisors: Sam Moshe and his team joined the firm’s Aventura, Florida, office from Merrill Lynch, managing $290 million in client assets and with yearly production of close to $3 million.

Craig Yates and John Dillon are now part of the Mount Laurel, New Jersey, office after departing from UBS, where they collectively managed nearly $220 million in client assets and produced almost $2 million in revenue.

Also moving to Morgan Stanley is Geoffrey Paul. He is now part of the Beverly Hills, California, office. At UBS (UBS), he managed $280 million with production of nearly $3 million.

Other Moves

Another UBS advisor recently jumped ship to rejoin Merrill Lynch (BAC) in its Southlake, Texas, office: John Campanello, senior vice president and wealth advisor, and his daughter Lauren Campanello, a financial advisor trainee, came to Merrill Lynch; the elder Campanello had previously been at Merrill Lynch from 2001 to 2009.

Chicago-based wealth management and investment banking firm Noyes welcomed Andy Blackwell to its Indianapolis office as a wealth advisor. Blackwell was formerly an senior vice president at Raymond James Financial, where he was responsible for implementing a variety of investment services and strategies.

Also, U.S. Trust has added four private client advisors, a private client manager and a philanthropic sales specialist at various offices. The client advisors are Daniel Thompson, who joined in Wilmington, Delaware, from Barclays Wealth and Investment Management; Edward Finley and Fatima Sanandaji, who joined in New York, the former from the University of Virginia where he was a visiting lecturer at the McIntire School of Commerce and the latter from HSBC Private Bank; and Kenneth Montgomery, who joined the West Conshohocken, Pennsylvania, office from Hawthorn.

In Bellevue, Washington, Jean-Pierre Green joined U.S. Trust as a private client manager from Key Private Bank, and in Washington, D.C., Erin Hogan joined as a philanthropic sales specialist from J.P. Morgan Private Bank.

— Read the May 25 Recruiting Roundup at ThinkAdvisor.



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