Raymond James recruited an advisor from Wells Fargo to its employee channel in Westlake, Ohio, according to John Kuklenski, Northern division director for Raymond James & Associates.
William Hornung, CFP, previously managed about $140 million in client assets. He does business with Kathleen Miller, senior registered client service associate, as Ethos Wealth Management of Raymond James.
“Raymond James offers us the infrastructure and technology we need to run our business and allows us to show clients who we are through the Ethos brand,” said Hornung, in a statement. “Raymond James’ client-first philosophy and respect for our advisor-client relationships are key for us as we continue to serve our clients and the next generation of clients.”
Hornung has been in the financial-services industry for 31 years. He was with A.G. Edwards from 1989 to 2008, when it was acquired by Wells Fargo/Wachovia, according to FINRA BrokerCheck.
“Bill and Kathy are a strong team who care deeply about their clients’ well-being,” Kuklenski explained. “I’m excited to welcome them to the firm and am pleased that they found the culture and resources at Raymond James to be the best fit for their business.”
Palm Beach Gardens, Florida-based Dakota Wealth Management, an independent wealth group with about $700 million in assets, says it has acquired the tax and advisory practice of GML Associates of Boston. This is Dakota’s third deal since the firm was formed in May 2018.
GML provides tax, business, estate and planning advice. Its operations include attorneys and CPAs, and it is led by by Gary Locarno and Katelyn Ainsworth.
“At Dakota, our distinctive approach has helped us forge a new standard for investment and wealth management. As a result, we are constantly looking for partners that align with our core principles and culture,” according to Dakota CEO and founder Peter Raimondi.
Earlier, Raimondi ran two other RIAs: Banyan Partners and The Colony Group. Banyan, which he founded in 2006, acquired seven firms in five years and grew to $4.3 billion in assets before it was sold to Boston Private in 2014.
Before he started Banyan, Raimondi founded The Colony Group of Boston in 1986; the group had more than 600 clients and $1 billion in assets by 2006. After Raimondi’s leadership, it grew to $1.3 billion in 2011, when it was sold to Focus Financial.