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July 06, 2017 at 08:09 PM
Raymond James says that it will provide custodial services to a new independent advisor firm with $1 billion in client assets. The group, Requisite Capital Management, was recently founded by two departing UBS employees in Dallas, Douglas John and Bryn Basiardanes Talkington.
Requisite Capital is working with FallLine Securities, a wealth management platform provider that uses Raymond James for clearing services.
“I am delighted to welcome Doug and Bryn and Requisite Capital as a new RIA partner firm” to the Investment Advisor Division, said Bill Van Law, head of the business, in a statement. He adds that he is “also very pleased to work with John [Strauss] and Peter [Ruhlin] at FallLine, as we help them serve the increasing number of advisory teams focused on the ultra-high net worth client segment.”
Prior to launching Requisite Capital, John and Talkington each were at UBS for more than 14 years.
“We are thrilled about our new company and our ability to define and manage the client experience. We look forward to delivering a broad array of investment opportunities and services using Raymond James resources combined with FallLine’s ultra-high net worth client focused platform,” John said in a statement.
“Technology is transforming the wealth management industry,” the advisor continued. “With the formation of Requisite, we can now embrace this new technology and use it as a catalyst to reshape how we deliver solutions for our clients. Our clients asked and we listened.”
John began his financial services career in 1996 with Merrill Lynch, spent three years with Alex. Brown/Deutsche Bank and then joined UBS in 2002. Talkington began her career with Olde Discount Corp. in 1994 and joined UBS in 2003, following short stints at Van Kampen Funds and Bear Stearns & Co.
First Republic News
First Republic Bank recruited two wealth managers from UBS in late June: Robert P. Gehlen and David J. Mucha, who join the firm in San Francisco. Gehlen has 25 years of industry experience, and Mucha has 20 years.
