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Raymond James Adds $505M Team From Wells Fargo

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Raymond James recruited two financial advisors with about $505 million in client assets from Wells Fargo to its employee-advisor channel in Denver: Mark Griffin and Mark Liley, who have 44 and 15 years in the business, respectively.

“[Complex Manager] Dennis [Kaboth] and I are excited to welcome Mark and Mark to the firm as we continue to expand our presence in the western U.S.,” according to Pat Allison, Western division director for Raymond James & Associates. “They are an exceptional team, and we are pleased that they found the resources and support at Raymond James to be the best fit for their business.”

Griffin and Liley join Robert Campbell and Jarrod Biebel, who do business as First Avenue Wealth Partners of Raymond James. Griffin has been with Wells Fargo since 2001, while Liley began work with Wells in 2003.

“Raymond James offered an excellent platform that allows us to provide an elevated client experience,” said Griffin, in a statement. “It was important to us to partner with a firm that gives us the ability to develop a business model that centers on the advisor-client relationship.”

Meanwhile, Raymond James Financial Institutions Division said three advisors have come on board as affiliates: Chris Shoemaker, Gregg Reich and Nichol Hoff, who collectively manage about $168 million in client assets and each have 12 years or more of experience as advisors.

The three advisors are part of Sturdy Financial Services, the Cape May Court House, New Jersey-based retail wealth management program at Sturdy Savings Bank, according to Tim Killgoar, senior vice president and head of Raymond James’ FID.

“We are pleased to welcome the experienced advisors and professionals at Sturdy Financial Services to our Financial Institutions Division,” said Killgoar, in a statement. “They are an outstanding team whose commitment to their clients and their community remains paramount.”

“With similar values and client-centric approaches, we are excited to partner with Raymond James FID,” Sturdy Savings Bank President and CEO Gerald L. Reeves said in the statement. “We believe partnering with Raymond James, which has a recognizable brand and offers comprehensive support, will help us enhance our offerings and take our program to the next level.”

The advisors were affiliated with Cetera for 11 years prior to partnering with Raymond James.

The recruiting news comes about a week after Raymond James’ independent channel wrapped up its national development conference, Elevate, in Washington, D.C.


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