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$2.5M Wells Fargo Team Goes Indie With Raymond James

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Raymond James says it has recruited a team with about $500 million in client assets and $2.5 million in yearly fees and commissions from Wells Fargo Advisors to its independent channel.

The group is led by identical twins Scott W. Powers, CFP, and Gregg Powers, CRC, as well as Sean C. Sill, CMFC. It does business as Twin Powers & Sill Wealth Advisors in Palm Beach Gardens, Florida, and includes Lisa Chavez, a registered client associate.

“We are delighted to welcome Scott, Gregg, Sean and Lisa to our firm. They are not only dedicated to serving long-term clients, but are also focusing on the client of the future,” said Jodi Perry, the Southeast regional director for Raymond James Financial Services, in a statement.

The Powers brothers began their financial services careers in 1992. They spent a few years with regional firms and in 2000 joined First Union Brokerage Services, which later became Wachovia and then Wells Fargo.

Sill cut his teeth in the business at Paine Webber starting in 1989. He later became a branch manager for Quick & Reilly’s Palm Beach office and then moved to Wells Fargo in 2004.

“After a long and thoughtful due diligence process, we decided to follow our entrepreneurial instincts and open our own independent practice but affiliate with a firm with the financial strength and stability, long-term focus and client-first culture that Raymond James is known for,” explained Scott Powers in a statement.

“It was clear during our due diligence that Raymond James values independence, and that it provides an environment where we are afforded the freedom and flexibility to truly run all aspects of our business – and to make the decisions we know are best for us and our clients,” he added.