FS&IS includes David Matty, Jackson Rhoades & Michael Stockton (seated); Sandy Rehak, Cindy Mowry, Janet Schmeski & Donna Kaczmar (middle row); and Summer Obert, Steven Bettenhausen, Brock Bettenhausen, Kimberly Pace and Logan Stone (top row).

Raymond James says it has added a team from Wells Fargo with six advisors, six other staff members and some $560 million in assets in Mountain Home, Arkansas, to its independent channel.

The financial advisors are Jackson Rhoades, CFP; Jan Schmeski; Mike Stockton; Steve Bettenhausen, CFP; David Matty; and Logan Stone, CFP.

“We spent a great deal of time researching opportunities for the best fit for our clients and our growing practice,” according to Rhoades, branch manager. “We met with senior leadership at the firm, and … are excited about reshaping and rejuvenating our business here at Raymond James and leveraging the firm’s resources to continue providing valuable wealth management support to our clients.”

Rhoades began his financial services career about 21 years ago at A.G. Edwards and stayed with the firm after it was acquired by Wachovia and then Wells Fargo. Schmeski started in the business more than 20 years ago.

Other team members include office manager Cindy Mowry; client account manager Donna Kaczmar; client relationship manager Kim Pace; client estates & transfers manager Sandy Rehak; client data access manager Summer Obert; and client service manager Brock Bettenhausen. Starting in 2019, Steve Bettenhausen will serve as FSIS Group’s business controller.

“The FSISG team, with more than 200 years of combined industry experience, has built a successful, client-first practice, and we’re proud that they found the support and freedom at Raymond James to be the best fit for them going forward,” said Kirk Bell, Central regional director for Raymond James Financial Services, in a statement.

Other Wells Fargo Departures

In mid-October, Steward Partners said that the former Wells Fargo team Coyle Financial Group joined it with some $500 million in client assets in Washington, D.C. (Steward is an independent practice affiliated with Raymond James.)

In late October, Raymond James  welcomed Kenneth Judd, Robert Gonzales and Joseph Klauzar in San Diego, California, according to Pat Allison, Western division director for Raymond James & Associates, the firm’s employee channel. The advisor group does business as Charted Course Wealth Management and has about $136 million in assets.

Around the same time, RBC Wealth Management said it recruited a $1.4 billion team from Wells Fargo Advisors in Bloomfield Hills, Michigan. The Bosart Wealth Management Group advisors includes Eugene (Trip) Bosart, Robert Bosart, Brad Bosart, Joe Moynihan and Maddalena Parks.

Since Wells Fargo’s fake-accounts scandal began capturing headlines in September 2016, the number of its advisors has declined by 1,012 — a drop of 7% from 15,086 two years ago.

The number of financial advisors in the retail brokerage business was 14,074 as of Sept. 30 — down 490 from a year ago and 152 from the second quarter.