Raymond James says a group has left Wells Fargo to join its employee channel in Columbia, South Carolina, with about $2.4 million in yearly fees and commissions as well as $375 million in client assets.
Financial advisor Preston Covington, portfolio analyst Amanda Simconis and associate Lindsey Sisk are now doing business as the Covington Financial Group of Raymond James, according to Dick Ferguson, Southern divisional director of Raymond James & Associates; the group reports to Dan Parker, Columbia complex manager.
“Dan and I are both delighted to welcome Preston, Amanda and Lindsey to our firm and have them open a new office for RJA in Columbia,” Ferguson explained in a statement.
“Attracting a financial advisor like Preston, with his years of experience, outstanding reputation and credentials, is a testament to the broad range of support and resources he and his team will find here at Raymond James. We could not be more pleased he chose to join us and take his practice to the next level,” he added.
Covington started his career with Bankers Trust and later moved to Smith Barney and Interstate Johnson Lane as a branch manager and advisor; the latter firm was bought by Wachovia and then became part of Wells Fargo.
“After more than two decades with the same firm, I came to realize what I had to offer my clients was incomplete,” the advisor said in a press release. “So I started to look for a firm that had more varied and deeper resources, and could support my practice in areas beyond just investments …, and I found them at Raymond James.”