Alex. Brown, part of Raymond James, has recruited an investment management group led by Jon DuPrau and Caspar Tudor from J.P. Morgan Securities in Los Angeles.

DuPrau is set to lead the firm’s institutional consulting efforts in Southern California and will be one of the 17 advisors in Alex. Brown’s Institutional Consulting business, which works with some $7 billion of consulting assets owned by endowments, foundations, healthcare, pension and defined contribution plans.

“We are excited to welcome Jon and Caspar to the team, as we continue to build on recruiting momentum in the Los Angeles market,” said Gary Cohen, a regional executive and branch manager for Alex. Brown, in a statement. “Their years of experience in successfully managing their client relationships and their unique approach to client portfolios is a perfect fit to the boutique wealth management business we are building at Alex. Brown,”

DuPrau has 18 years of industry experience, having started in the business as a Quantum Portfolio Manager for Prudential Securities. Tudor is focused on the team’s formulas for the Russell 1000 and 2000 indices.

Also joining the team is Peter Barry, who has worked with institutional and high-net-worth individuals since 1991 and has focused on alternative investment strategies. “Alex. Brown’s offerings through their Private Institutional Client business is among the best in the industry,” Barry explained in a statement.

Other News

Securities America, one of the Ladenburg Thalmann-owned broker-dealers, has recruited Futurity First Insurance Group, an insurance distribution organization with 20 advisors $222 million in client assets under advisement.

Based in Middletown, Connecticut, Futurity First focuses on retirement income and insurance protection solutions. Earlier, it worked with Mutual of Omaha Investors, ProEquities, AXA and Cambridge Investment Research.

“Most insurance agents at other organizations don’t really know what independence looks like,” said Gregg Johnson, Securities America executive vice president of branch office development and acquisitions, in a statement. “Futurity First incorporates independence into their business model by allowing their advisors to choose the products that are right for their clients.”

“We are pleased to play a key role in their continued growth and success as a strategic partner fueling their ongoing expansion into the advisory sector,” Johnson added.

More Developments

LPL Financial says Christopher Manci and his team of five associates joined it in Tunkhannock, Pennsylvania, after working with Nationwide Securities for 16 years.

Manci and his team work with some $100 million of client brokerage and advisory assets.