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September 22, 2016 at 03:32 AM
Raymond James (RJF) has welcomed two advisor teams with over $680 million in client assets to its office in Boise, Idaho — both from Morgan Sanley (MS).
The Campbell Courtright Group of Raymond James & Associates, includes William “Bill” Campbell, vice president of investments, and Patrick Courtright, associate vice president of investments, as well as Eltiena Campbell, senior investment management specialist.
The team recently managed over $360 million in client assets. Campbell has 23 years in the industry, while Courtright has eight (including one with Raymond James’ independent channel), according to FINRA BrokerCheck.
The members of the second team, which now does business as Riedel-Miles Family Wealth Advisory Partners of Raymond James, are Debra Riedel, senior vice president, and Josh Miles, first vice president; earlier, they managed about $325 million in client assets and had $1.8 million in yearly fees & commissions.
Riedel has 25 years in the business and was with Morgan Stanley for the past 10. Miles has worked for 20 years as an advisor, including the last eight at Morgan Stanley.
“As Raymond James continues to expand our presence in the North and Northwest, I could not be more pleased to welcome these two great teams of advisors and their exceptional staff,” said Todd Lovell, Boise, Idaho complex manager for RJA, in a statement.
“Our firm’s reputation for putting clients’ interests first and focusing on the needs of our advisors—whether that is from a technology standpoint, a product perspective, or just allowing them the control to run their practices and serve their clients as they choose—allows us as managers to continue to attract the very best in the business.”
Meanwhile, Summit Financial Consultants and Sorensen Wealth Management, two independent hybrid-RIA firms based in Westlake Village, California, have merged to form an expanded hybrid RIA firm that will use the Summit Financial Consultants brand. The combined firm has a total of more than $320 million in brokerage and advisory assets under management.
Under the terms of the merger, Sorensen personnel will relocate to Summit’s nearby offices to create a combined ensemble practice of 13 professionals, including five financial advisors, as well as dedicated experts in areas such as insurance, tax advice and other related specialties.
Neil Elmouchi, who had been chairman and CEO of Summit, will retain the same position at the combined firm, while Jeff Sorensen, previously chairman and CEO of Sorensen, has been named president of the combined firm going forward. Summit and Sorensen will continue to trade securities through Triad Advisors.
Ameriprise Financial (AMP) has brought in two advisors to its employee channel and one to its franchise channel with nearly $300 million in client assets.
