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June 22, 2016 at 04:37 PM
Raymond James (RJF) has welcomed a new employee-advisor team to its Chesapeake complex, where. George “Bo” Bragaw III, William “Bill” Weldon and Tara Orendorff will do business as WBO Capital Partners of Raymond James, managing more than $205 million in client assets and having yearly fees & commissions of $1.4 million. They will maintain offices in both Washington, D.C., and Baltimore, Maryland, and be managed by Warren Wright.
Both Bragaw and Weldon previously held branch management roles with Wells Fargo Advisors and its predecessor firms. Bragaw managed the Washington, D.C. branch and was a former Baltimore complex manager. Weldon served as a Bethesda branch manager for Wheat First, which became Wachovia Securities, and also served in that capacity for E.F. Hutton.
“Having worked for Wells and its predecessor firms for a combined 70-plus years, this move was an incredibly difficult decision for us to make,” said Bragaw in a statement. “But after three mergers in 10 years, we recognized that the resulting firm was no longer a good fit for us.”
In other news, LPL Financial brought in a $200 million team: Charlotte Wealth Advisors joined the firm’s broker-dealer platform and will provide fee-based advisory services through registered investment advisor Independent Advisor Alliance (IAA) on LPL’s hybrid RIA platform. As of March 31, CWA managed approximately $200 million in commission- and fee-based client assets.
Based in Charlotte, N.C., CWA is a newly formed independent financial advisory firm cofounded by John Osterberg and Chad Pannell. They are joined by financial advisor Philip Lee.
Steve Pirigyi, LPL executive vice president of business development, said in a statement, “It has been an increasing trend for advisors to join a local RIA for the customized and personalized support it can provide when paired with the backing of a large firm that can deliver a broad range of resources and tools. As the market consolidates, this model may have an even greater appeal for its ability to help advisors navigate the changing regulatory landscape and create growth opportunities for their firms. We look forward to supporting Charlotte Wealth Advisors on the LPL platform.”
Meanwhile, Stratos Wealth Partners has welcomed Dawna Westberg-Welch, who will continue to operate from her office in Sedona, Arizona. Formerly affiliated with JPMorgan Chase Bank, Westberg-Welch manages more than $65 million in client assets.
Pensionmark Financial Group announced that its own network has grown by another firm with the joining of James Lyday of Ridge Retirement Consultants as a managing director.
U.S. Trust Recruits
