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Raymond James Grabs $1B Wells Fargo Team, $235M Merrill Group: Recruiting Roundup

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Raymond James said a team with four advisors and $1 billion in assets has joined its employee channel in New York from Wells Fargo. It also added a group from Merrill Lynch to its independent channel with three advisors, $235 million in assets and yearly fees and commissions of $1.1 million.

In New York, Stephen Adler, CIMA, AIF, CRPS; Mark Levy, CIMA; Roger Jee; and Michael Lubin, CFP; are now part of  Raymond James & Associates in Manhattan, according to Tom Galvin, North Atlantic regional director for RJA.

Also becoming part of the practice are advisors Allison Guzman and Stephen Orzo, who are currently in Raymond James’ Advisor Mastery Program; Loriann Montanez, senior registered client associate; Christopher Swanson, CFA, senior investment management specialist; and James Havell, practice marketing associate.

“We are excited to welcome such high quality advisors to Raymond James as we continue our rapid and strategic expansion in New York City and throughout the Northeast,” said Galvin in a statement. “We’re proud that Raymond James’ client-first culture, robust services and extensive advisor support continue to be differentiators for some of the best advisors in our profession.”

Adler has been in the financial services industry for over 40 years. He was with Wells Fargo since 2006 and also worked for E.F. Hutton & Co., CIBC Oppenheimer and C.E. Unterberg. Levy has more than 30 years of industry experience and also with Wells Fargo since 2006.

Jee began his career in 1990 with Smith Barney and later worked for CIBC Oppenheimer and C.E. Unterberg. Lubin has more than 20 years of wealth management experience. He began his career in 1994 as a financial reporter and then went to work for Gruntal & Co. in 1997; from 1998 to 2018, he worked in wealth management with Wells Fargo Advisors and its predecessor firms.

Guzman began her financial services career in 1991, while Orzo started his career in 2006 at RBC Capital Markets in New York and joined Wells Fargo in 2007.

In other news, David Patton, Miles O’Mailia and Theresa Cooper are now part of Raymond James Financial Services in Maumee, Ohio, according to David Sisemore, Midwest regional director for RJFS. The advisor trio does business as Patton Wealth Management.

“David, Miles and Theresa are a talented team with more than 65 years of combined industry experience and a steadfast commitment to their clients,” according to Sisemore. “We are proud that Raymond James’ client-focused culture and level of advisor support continue to resonate with high quality, experienced financial advisors like David, Miles and Theresa, and we look forward to supporting them as they continue to grow their business as independent advisors.”

Patton began his wealth management career more than 18 years ago at Edward Jones and later worked at Smith Barney; he was with Merrill Lynch for the past 10 years. O’Mailia, has been in the wealth business for nearly 40 years, working at Prudential, Smith Barney and most recently Merrill Lynch. Cooper has over 10 years of experience in wealth management, most recently at Merrill Lynch working alongside Patton and O’Mailia.

RBC Recruits

RBC Wealth Management said an advisor from Wells Fargo is now part of the firm in Des Moines, Iowa: Michel Greth, who has worked with about $170 million in client assets and has 14 years of industry experience.

Also moving to RBC from Wells Fargo is Bruce Rosen and Rosen Wealth Management, who are based in San Francisco and work with $390 million. The Rosen Wealth Management Group includes Rosen, who has 35 years of industry experience; Mary DuSablon, investment associate; and Mia Manahan, senior client associate.  

“After conducting significant due diligence on several competitive firms, we chose RBC’s Northern California complex due to its unique blend of global resources and the client-centric culture of a boutique firm,” said Rosen in a statement.

Developments at Janney

Janney Montgomery Scott said it hired of four veteran advisors who work with a total of $325 million in client assets.

The Kernicky Group joins the firm’s Media, Pennsylvania, office from Merrill Lynch, while William F. Peck moved to Janney’s Towson, Maryland, office from Brown Advisory.

The firm has also announced the opening of a new branch office in Lewes, Deleware.

“We are thrilled to welcome this seasoned group of advisors to our branch offices in Media and Towson and to be expanding our footprint with a new office in Lewes, Delaware,” according to Jerry Lombard, president of Janney’s Private Client Group. “We are delighted that Janney’s strong values, boutique culture and commitment to putting clients first has resonated with so many top-notch advisors.”

The advisors of the Kernicky Group have more than 50 years of combined industry experience and work with about $235 million in client assets. The team includes Michael Kernicky, CFP, and his two sons Michael J. Kernicky, CFP, CRPC, and John Kernicky, Financial Advisor. The team is supported by client associate Lois Bolgunas.

Peck is now part of the Janney’s Towson branch office; he has with more than 35 years of industry experience and $90 million in client assets under advisement. He is accompanied at by his son, William Neill Peck, a client associate.

In addition, five advisors relocated from Janney’s Greenville, Delaware, branch office to form the new branch office in Lewes. Lewes represents the fifth new location opened by Janney in 2018.

Atria Hiring

Atria Wealth Solutions, a wealth management solutions holding company, has hired John Reinhardt as its CTO. He will be responsible for managing changes to Atria’s technology platform.

Reinhardt has more than 20 years of experience serving in technology management roles in financial services, including work as the director of Information Systems at Stifel Financial. He also has  held senior technology roles at Barclays Wealth America, Lehman Brothers and Neuberger Berman.

“The addition of John to the Atria executive team demonstrates our dedication to investing in the superior talent and resources that will propel us forward,” said Eugene Elias, COO and funding partner, in a statement.

“We view technology as a sophisticated mechanism to provide advisors and clients with outstanding service. With that in mind, we are fiercely committed to building the best platform, and therefore providing the best service, in the marketplace for both advisors and financial institutions,” Elias added.

In addition to Reinhardt, Atria says Matthew Bassuk joined it as national director of recruiting for the independent advisor channel, Brian Bichler as head of platform experience, and Travis Grimm as head of program management.

Atria’s subsidiaries include broker-dealer and registered investment advisor firms CUSO Financial Services and Sorrento Pacific Financial.


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