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December 28, 2017 at 08:05 AM
Raymond James says it added five advisors from wirehouse firms recently with about $555 million in client assets. The registered reps join its operations on the West Coast, along with an advisor from Wedbush Securities with some $60 million in assets.
In Hawaii, Linda J. Fulgenzi has moved to the employee channel, Raymond James & Associates (RJA) from Merrill Lynch, where she previously managed roughly $113 million in client assets and had over $1 million in yearly fees and commissions.
Fulgenzi has been in the business for 30 years and spent the last nine with Merrill, according to FINRA BrokerCheck. She is joined by planning consultant Lane Nagano, who has 17 years of industry experience.
“I was attracted to the very strong Raymond James philosophy of advisors being the firm’s clients,” said Fulgenzi in a statement, “and that when we advisors take care of our clients by putting their interests first, everyone wins.
“As a number of my clients retire from Hawaii and move to various places on the mainland, I am delighted to have joined a firm that is so supportive and provides me the flexibility to continue to serve my clients in their respective communities, and, in particular, expand my practice in Tucson, [Arizona],” she explained.
Also joining the Honolulu office is Chris Pike, a 25-year industry veteran who previously was with Wedbush Securities. He is joined by associate Irene Yu.
In Southern California, RJA recruited the father-daughter team of John and Deanna De Rosa in Newport Beach. They moved from Morgan Stanley, where they previously managed about $180 million in assets.
“As Raymond James continues its strategic growth along the West Coast, we are proud that our firm remains a destination for top advisory teams like The DeRosa Group,” said Rick Sanchez, West Coast regional director for RJA, in a statement. “We look forward to providing them the superior level of service and support all our advisors have come to expect.”
The DeRosa team includes associate Bill Best.
“As we looked at alternatives, we did not want to substitute one big bank for another, but rather find a firm that was large enough to provide the products, resources and infrastructure necessary to serve our clients well, but that had a reputation for putting clients’ interest first and treating its advisors as clients,” Deanna DeRosa explained in a statement.
Her father began his financial services career at Eastman Dillon in 1970 and then worked for Paine Webber and Kidder Peabody. He joined Smith Barney in 1999, which was acquired by Morgan Stanley in 2009.
The younger DeRosa started her work in the business in 1994 at Kidder Peabody and then spent four years with AEON Corp. in Japan before joining her father at Smith Barney in 1999.
