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Wells Fargo Team Joins UBS, Another Goes Indie With Fidelity: Recruiting Roundup

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UBS says a team from Wells Fargo Advisors has joined its operations in San Jose, California; the group has overseen about $400 million in assets and had yearly fees and commissions of $3.2 million.

The team, which moved to UBS on Feb. 14, is led by Brad Frederickson and includes his son Jeff, a fourth-generation advisor.

Brad has about 30 years of industry experience, having joined E.F. Hutton in 1985. He has been with Wells Fargo and its predecessor firms since 1993.

Jeff joined Frederickson Capital Management of Wells Fargo Advisors in 2014.  Earlier, he worked for an RIA in San Francisco.

Meanwhile, Portland, Oregon-based JGP Wealth Management has been launched as an RIA firm and is now working with Fidelity Clearing & Custody Solutions.

The partners at JGP started working together more than 24 years ago. “We are the same exceptional team, with the same mission of taking care of our clients, and now with a charge and the opportunity to put their interests ahead of all others,” said Kevin Sanger, JGP’s COO and director of Advice & Implementation, in a statement.

Sanger spent the past 16 years at Wells Fargo and earlier was with Merrill Lynch for five years.

“As we explored the numerous options for serving clients, we realized that the independent registered investment advisor platform holds an advantage. This is an era of transparency, collaborative technology, vast investment options and customized solutions,” explained CEO Jeff Paustian, in a statement.

Paustian worked for Wells Fargo since 2001. He was with Merrill Lynch from 1993 to 2001, according to BrokerCheck.

“We look forward to working with the team at JGP Wealth Management as they strive to take their firm to the next level,” said David Canter, head of the RIA segment for Fidelity Clearing & Custody Solutions.

More Movement

Janney Montgomery Scott has opened a new branch office in Battle Creek, Michigan, and has welcomed a local team of veteran advisors.

The Buikema, Oursler, Morse Financial Team, which has some $200 million in client assets, is led by Matthew Buikema, Michael Oursler and Travis Morse, and was formerly affiliated with Raymond James & Associates.

“We are very proud to open our first office in Michigan, especially with such a well-respected and experienced group like the Buikema, Oursler, Morse Financial Team,” said Jerry Lombard, president of Janney’s Private Client Group, in a statement.

Buikema has over 35 years of experience, while Oursler has more than 20 years. Morse has been in the business for 15 years.

The Battle Creek branch is Janney’s second new location of 2018; earlier this year it opened a new location in Columbus, Ohio.

Janney says that an advisor formerly with has joined this new location from Wells Fargo Advisors: Jeramy D. May. A 20-year industry veteran, May works with over $118 million in client assets.

For its part, Raymond James’ independent channel said it recently recruited financial advisors Taylor Adams and Annie Norris in Little Rock, Arkansas, according to Kirk Bell, Central regional director for Raymond James Financial Services.

The duo does business as Southern Wealth Group and moved to RJFS from Merrill Lynch, where they previously managed roughly $180 million in client assets and had about $1.5 million in yearly fees & commissions.

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“Having been with our previous firm for so long, we didn’t take a move lightly, and we took more than a year to evaluate how a potential move might benefit us, but more importantly, our clients,” said Adams, in a statement.

“Raymond James has the technology and the investment expertise that we need for providing best-in-class service to our clients, and the firm allows us the freedom to truly run all aspects of our business,” he added.

Adams began his career at Edward Jones in 2003, before moving to Merrill Lynch in 2005.

Norris cut her teeth in the business starting in 1987 at Merrill, where she remained for more than 30 years.

“Having attended a Raymond James conference as a visitor, I learned more about the firm’s unique culture and the support they provide advisors. I was also pleased to know that the firm has a network dedicated solely to supporting its women financial advisors,” she explained in a statement.

Other Developments

Securities America, an independent broker-dealer owned by Ladenburg Thalmann, has recruited two independent firms and added one super OSJ to its platform — with a total of $700-plus million in client assets. has nearly $320 million in assets, focuses on retirement-plan clients, is led by Aron Sommer and includes nine employee advisors; Vizionary Wealth Management is headed by Wayne Wagner and works with over $175 million of assets owned by clients in science professions; and Gandet Group, a super OSJ, has roughly $220 million of client assets. The groups formerly were affiliated with Invest Financial, LPL Financial and National Planning Corp., respectively.

“Each business is distinct, with its own unique area of focus and business model,” said Gregg Johnson, Securities America’s head of branch office development and acquisitions, in a statement. “But they share a passionate dedication to delivering exceptional service to their clients.”

“We researched over 80 firms’ offerings,” explained Wagner in a statement. “Securities America’s focus on service, getting the right answer the first time, their support of diversity in business models and willingness to facilitate strategic partnerships all weighed heavily in our decision.”

Dynasty Financial Partners says that CJM Wealth Management has joined its network in Deer Park, New York. The independent RIA has more than $400 million in client assets.

CEO Charles Massimo founded CJM 15 years ago. Earlier, Massimo was with Merrill Lynch, Citigroup Global Markets and Royal Alliance. He began his career in 1987 at Shearson Lehman Brothers.

In 2005, he was joined by Peter Anastasian, who came on board from Smith Barney.

“While our client base is diverse, our focus and expertise is around doctors in transition seeking to sell their medical practice and, because of my own personal experience, working with families impacted by autism,” said Massimo, in a statement.

“As an independent firm for 15 years, we provide a level of expertise and a suite of services that truly caters to our clients’ unique needs,” he explained. “Now, working in partnership with Dynasty Financial Partners, we want to provide a greater depth of expertise and solutions to our clients.”

Kestra Financial announced that a team with some $270 million in assets is now using its platform.

Headquartered in Glen Allen, Virginia, with two other offices in the state, The Main Street Group was founded in 1984 by CEO Steve Crawford and it has 22 advisors and employees.

“Kestra Financial is dedicated to providing state-of-the-art technology, personalized consultation and practice management support to experienced wealth management firms like The Main Street Group,” said Kestra CEO James Poer, in a statement. “To support Steve’s goal to ramp up growth in 2018 and beyond, Kestra Financial is already equipping his team with the many resources we have at our disposal.”

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