Close Close
Popular Financial Topics Discover relevant content from across the suite of ALM legal publications From the Industry More content from ThinkAdvisor and select sponsors Investment Advisor Issue Gallery Read digital editions of Investment Advisor Magazine Tax Facts Get clear, current, and reliable answers to pressing tax questions
Luminaries Awards

Financial Planning > Tax Planning

Raymond James Nabs $1.5B Reps From Wells Fargo, Morgan Stanley and LPL: Recruiting Roundup

Your article was successfully shared with the contacts you provided.
Advisor recruiting continues to be on a tear.

Raymond James had quite a recruiting week. Its different affiliate channels added advisors and teams from Wells Fargo, Morgan Stanley and LPL Financial with a total of $1.5 billion in combined client assets.

For instance, its employee channel drew  Ian MacClure in Denver, where he has managed some $114 million in client assets for the past four years.  

“As I evaluated different firms, I was continually drawn to Raymond James because of its resources, home office support, and the people,” according to MacClure, first vice president, investments. “It’s a truly client-centric firm, and all of the resources and technology they offer advisors are in support of our relationship with our clients.”

Steward Partners, an employee-owned independent partnership associated with Raymond James, said a an team has joined it in Washington, D.C., from Wells Fargo, where it oversaw more than $500 million in client assets: Coyle Financial Group, which includes Brad Coyle, Ali Allen and Brad Coyle, Jr.

“Through their years of hard work and dedication to client success, these advisors have distinguished themselves both nationally and within their community,” according to Jeff Gonyo, Steward Partners’ divisional president.

The team spent the past 10 years at Wells Fargo and the prior 12 years at A.G. Edwards. The senior Coyle has been in the business for 26 years, while his son started out as an advisor this spring.

“Our entire team is excited about this opportunity, both for our firm and for our clients” added Brad Coyle. “Working with Steward Partners grants us greater flexibility and investment options to help our clients achieve their financial goals in ways we couldn’t previously.”

Steward also picked up advisor Ken Neuman in Morristown. N.J. Neuman previously worked for Morgan Stanley and had some $135 million in client assets. He started in the business in 1984 with Merrill Lynch and was with Morgan Stanley from since 2006.

“Anyone that has met Ken knows that he is dedicated to his clients’ success,” according to Tim Sheridan, Steward Partners’ Divisional President. “Our new Morristown office has been growing fast, and we couldn’t be happier to welcome someone with Ken’s stellar record and impeccable client relations skills, to continue the momentum we’ve been generating in the Garden State over the last year.”

Also moving to Raymond James from Morgan Stanley are advisors Matthew Shafer, CIMA, Mark Barber and Jeffrey Winkler. They join the employee channel  in Boca Raton, Florida, with other offices in Boston and Grosse Pointe, Michigan.

The three reps manage some $475 million of client assets and mainly work as a fee-based financial planning practice. Also joining the team at Raymond James is investment portfolio associate Joseph Danley and senior client service associate Danielle D’Ambrosio.

“After an exhaustive search of all the options in our industry, we found Raymond James to be the best fit for us and our clients going forward,” according to Shafer, managing director. “The firm offers us flexibility to run our practice and has extensive resources so that we can offer customized solutions to meet our clients’ needs.”

Shafer began his career in 1997 with PaineWebber, staying with the firm after it was bought by UBS. In 2009, the team joined Smith Barney’s Citi Family Office group, and firm was later acquired by Morgan Stanley.

Barber has been in the industry since 2001, as has Winkler. The three advisors worked together in Boca Raton until 2009, when Barber moved to Boston and Winkler moved to Grosse Pointe.

“Matt, Mark and Jeff lead a successful, premier financial advisory practice. With shared values and a client-first approach, they are an outstanding addition to Raymond James,” said Bert White, South Florida complex manager based in Boca Raton, in a statement. “They are the total package, and having worked with them previously at prior firms, I am thrilled to again be partnered with them here at Raymond James.”

Meanwhile, Raymond James independent channel recruited a $285 million team from LPL Financial in Rochester, N.Y.

Tamar “Tammy” Mogilski, CLU, ChFC, CFP, and Brian Bedford, ChFC, AIF, CASL,  work as Legacy Financial Planning and have some $285 million in client assets. Joining them are office manager Martha Trumbull, investment consultant Samuel Zito, client service manager Lisa Mercadel, client relations associate Kaitlyn Kuder and digital marketing associate Shayne Mogilski.

The team is based in Rochester and has offices in Shelton, Connecticut, and Oswego, New York.

“Raymond James has a culture that we believe is unique in our industry,” according to Mogilski, CEO and founding partner at Legacy Financial Planning and RJFS financial advisor. “The people at the firm really operate with a client-first approach, making sure that everything done is in the best interest of the client.”

Mogilski and Bedford founded Legacy Financial Planning while at MetLife and took the practice independent in 2012 upon affiliating with LPL.

“I’ve seen a lot of technology and software over the years,” added Mogilski, “and Raymond James’ technology and financial planning software are exceptional. Between the culture and the support, it just feels like home.”

Mogilski has spent more than 30 years financial services, while Bradford has 15-plus years.

Other News

Winebrenner Financial Services has joined LPL’s broker-dealer and corporate registered investment advisor (RIA) platforms from Cetera Advisor Networks, where it had about $180 million of client brokerage and advisory assets.

Advisor David Winebrenner Jr. started the Lebanon, Kentucky-based firm in 2001. He has been in the business since 1996.

“We chose LPL because its size and scale helps us keep costs low, so we can deliver additional value and choice to our clients,” according to Winebrenner. “We are also very impressed with the technology. We believe the capabilities we now have access to can accelerate our growth. We’re really excited about our future and deepening the client relationships in our community.”

LPL also says that Gulf Coast Wealth Advisors moved to its hybrid platform from First Allied Securities. The team is led by advisor Jeffrey LaBelle and is based in Sarasota, Florida, where it has some $110 million of client assets.

“We are thrilled to be with LPL for our clients and for our team,” according to LaBelle, CEO and founder. “The resources, research and technology available from LPL will enable us to provide a new level of investment and financial planning to our clients, helping to provide them more confidence in their financial futures.”

LaBelle has 30 years of experience in the financial-services industry. He is joined by advisor and Army veteran John Scott and by client service rep Kristin Begley.

More Developments

SagePoint Financial, one of the Advisor Group IBDs, said has added $240 million in combined assets under advisement.

Joining the broker-dealer are Droeg Financial Services and Kranenburg Accounting and Tax Service; meanwhile, existing SagePoint affiliates Veritas Wealth Management, Bluegrass Wealth Management and Midwest Financial Advisors have each recruited individual advisors with a combined $179 million in assets.

Droeg Financial Services of Mesa, Arizona, joins SagePoint with over $43 million assets. Utah-based Kranenburg Accounting and Tax Service comes on board with over $18 million.

“At SagePoint, we’re always looking for like-minded, growth-minded advisors to add to our network,” said Jeffrey Auld, president and CEO of SagePoint Financial, in a statement. “We welcome these new firms and advisors to the SagePoint family and are excited to partner with them to help their businesses expand and their clients thrive.”

Securities America, which is owned by Ladenburg Thalmann, recently recruited JSD Associates to its platform. David Vinciguerra serves as president for the North Syracuse, New York-based financial services firm, while Giovanni Vitale is vice president. The group formerly worked with Cadaret, Grant. 

It now has $151 million in client assets and will affiliate with Securities America via Evolution Financial Advisors, a Super-OSJ in Victor, New York, which has assets of more than $2 billion. Vinciguerra has 27 years of experience in financial services; Vitale has 32.

“We are also very pleased to play a key role in the ongoing growth of Evolution Financial Advisors by assisting them in bringing skilled, veteran talent like David and Giovanni to their team,” according to Gregg Johnson, Securities America’s executive vice president of branch office development and acquisitions. “Our success is predicated on providing the resources and solutions our advisors and branches need to build their ideal businesses, and we are committed to helping these two outstanding advisors pursue their aspirations.”


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.