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Ameriprise Nabs Edward Jones Team; Janney Adds 11 Reps in Q1: Recruiting Roundup

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Ameriprise Financial says it recruited a duo from Edward Jones with about $185 million in assets.

Paul Orlando and Derek Busby of Meridian, Idaho, are now part of Ameriprise’s franchise channel; they report to Franchise Field Vice President George Varones and do business as Granite Financial Management.

“We felt now was the right time to make a move because we wanted to have flexibility to offer clients additional investment options. We’re looking to help more clients who want these choices,” Orlando said in a statement.

Orlando started in the business at 2007 at Edward Jones, while Busby began working at the firm in 2009, according to FINRA BrokerCheck records.

Meanwhile, Janney Montgomery Scott announced that it recruited 11 financial advisors with over $950 million client assets and 21 other professionals to its Private Client Group in the first quarter of 2018.

“Our 2018 first quarter recruiting results affirms that Janney is a destination of choice for talented financial advisors who share our client-first philosophy. said Jerry Lombard, president of the Janney Private Client Group, in a statement.

Janney has about $81 billion in assets under advisement as of March 2018. In 2017, the firm welcomed 65 new Private Client Group advisors. It is a unit of The Penn Mutual Life Insurance Company.

More Developments

In other news, Fiduciary Trust Company International — a wealth manager and subsidiary of Franklin Templeton Investments — recently announced that Suzanne E. Kline, CFA, joined the firm as regional managing director for the San Francisco Bay Area and Silicon Valley from Wells Fargo.

Kline has been in the business for about 30 years and will oversee the company’s private wealth business in Northern California and serve as a member of Fiduciary Trust’s Operating Committee.

“As we continue to grow our presence in Northern California, Suzanne’s wide-ranging expertise will help us deliver customized, institutional-quality wealth management and trust and estate services to more clients in San Francisco, the East Bay and Silicon Valley,” said said Lawrence A. Sternkopf, president and COO of Fiduciary Trust Company International, in a statement.

Kline spent the past decade at Wells Fargo, where she was most recently a manager of investment and fiduciary services for the Greater Los Angeles region. She also was a regional investment manager and senior vice president with Wells Fargo Private Bank in Northern California’s Greater Bay region.

Prior to joining Wells Fargo in 2008, Kline worked for BNY Mellon Wealth Management for 12 years. Earlier, she was a vice president in the municipal bond trading and sales group at Lehman Brothers.

“I enjoy working with individuals, as well as multiple generations of families, to achieve personal and financial success using customized investment and wealth management strategies,” said Kline, in a statement. “Fiduciary Trust’s client-centric culture and team of experienced financial professionals have earned the organization an outstanding reputation in our industry.”

Fiduciary Trust has about $79 billion in assets under administration and management.

In addition, Incapital, an underwriter and distributor of fixed income securities, says Paul Mottola has joined the firm as head of Capital Markets. He will support growth in the team’s InterNotes program, which offers individual investors access to new issue corporate debt.

“Paul is an accomplished executive with proven success leading and building businesses in capital markets, product origination, trading and business development,” said CEO John DesPrez, in a statement. “He will be an essential component to our success and growth by identifying and implementing strategic initiatives to drive stronger awareness of our fixed income offerings and capabilities, including InterNotes.”

Mottola has held various leadership positions, including 20 years at Merrill Lynch, where he was head of Equity and Fixed Income Syndicate for the Global Wealth Management Division, and six years at Barclays Wealth and Investment Management as the head of the Trading and the Capital Markets platforms.

Most recently, he was a managing partner at PCM Management Consulting.

New President

Schechter, an investment advisory, private capital and life insurance firm with four advisors and about $832 million assets, has appointed Ray Gunn, CPA, as its president.

Previously, Gunn was a full-time consultant working independently with companies and through his associations with Anchor Resource Management and Van Conway & Partners.

“Ray joins Schechter during an exciting period,” said Senior Managing Director and Principal Marc Schechter, in a statement. “With our private capital division gaining momentum, the continued acquisition of new clients, and the need to fill new positions within the firm, we’re confident Ray’s experience will be a strong asset moving forward.”

Schechter is based in Birmingham, Michigan.


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