Raymond James Adds $1.7M Advisor From Wells Fargo: Recruiting Roundup

In mid-April, advisors Jeff Porasik and Suzanne Yde joined RJA from Wells Fargo in Racine, Wisconsin. At Wells Fargo, the duo managed more than $405 million in client assets and had yearly production of about $1.6 million.

Other Developments

Janney Montgomery Scott recently welcomed Matthew Loitz, CFP, from Wells Fargo Advisors who works with about $157 million in client assets. Loitz, who has been in the business for 22 years, will work in the firm’s Glastonbury, Connecticut, branch office.

“Matt joins a growing number of recent hires that were drawn to Janney for its stability, responsiveness to client needs, and unparalleled home office support,” said George Keith, a complex manager at Janney, in a statement.

The news comes about one week after RBC Wealth Management recruited, the Bivona Consulting Group, in Glastonbury, from Wells Fargo. That team includes Joseph Bivona, Thomas J. Bivona and Robert R. Impelluso, who manage roughly $925 million in client assets.

In other news, Ameriprise Financial says Gemmer Wealth Management — which includes assets of $150 million and four advisors — has joined its franchise channel from AXA Advisors in Indianapolis. The group includes Charles Gemmer; Adam Gemmer, CFP; Brent Gramman and Ronan Marra.

“We did our due diligence and talked to many broker-dealers about our goals and client needs. We felt Ameriprise was the best move because they supported how we operate as a team, not just as individual advisors,” said Charles Germmer in a statement. “They allow us the flexibility to add advisors and staff as needed to support our team’s growth.”