Raymond James says its employee channel continues to attract advisors from Wells Fargo Advisors. This week, it added John S. Banks in Rochester, New York, according to John Kuklenski, Northern division director for Raymond James & Associates (RJA).

Banks has trailing 12-month fees and commissions of about $1.7 million.

“We are proud that Raymond James’ longstanding client-first reputation and culture of advisor support continue to appeal to outstanding advisors like John, as we further expand the firm’s presence in the Northeast,” said Kuklenski in a statement.

Banks, CFP, began his career as a financial advisor at A.G. Edwards in 1993.

About two weeks ago, Raymond James & Associates recruited financial advisors Gary Rosen, Daniel Kramer, Grigori “Greg” Lvov and Robert Kikin in Hackensack, New Jersey, from Wells Fargo.

Rosen and Kramer operate as Constantine Wealth Management and previously managed $621 million in client assets. Lvov and Kikin do business as the Lvov-Kikin Financial Consulting Group and earlier managed $162 million in client assets.

“Our number one reason for moving to Raymond James was the ability to have greater freedom, flexibility and control to run our practice with our vision,” said Rosen, in a statement. “We were also looking to align ourselves with a firm that values the advisor-client relationship and recognizes that we own that relationship.”

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.”