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Practice Management > Building Your Business > Recruiting

Raymond James, Stifel Nab $395M Wirehouse Reps: Recruiting Roundup

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Raymond James says it recruited Gregory Stevens and Vince Spires to its employee channel from Morgan Stanley in Ocala, Florida.

The advisor duo do business as Spires & Stevens Wealth Management of Raymond James and previously managed about $240 million in client assets. Also joining the firm is Yvonne Emeric, senior registered client service associate.

“We were drawn to the client-first and advisor-friendly culture at Raymond James …,” according to Stevens, senior vice president, wealth management. “We have been very impressed with the level of service from the home office and our local management. The support they provide and their willingness to do what they can to help is refreshing. We’re excited to now be a part of Raymond James.”

Stevens has more than 21 years of financial services experience, while Spires began his career in 2000.

“We are pleased to welcome Greg, Vince and Yvonne to Raymond James,” said Patrick O’Connor, Florida regional director for Raymond James & Associations. “With a strong commitment to their clients and an appreciation for the advisor-centric culture at Raymond James, they are great additions to the firm and our Ocala office.”

Separately, Raymond James says Raj Seshadri, president, U.S. Issuers at Mastercard to the Board of Directors, is joining its board of directors on June 1. Upon joining the Board, Seshadri will also become a member of the company’s Audit and Risk Committee.

Seshadri, 53, has been in her current role with Mastercard since 2016. She previously was a managing director at Blackrock from 2012 to 2016, first as global chief marketing officer for iShares, and later as the leader of iShares Wealth Advisory.

Her career also includes positions of increasing responsibility with Citigroup, Inc., U.S. Trust Company, and McKinsey & Company, Inc.  She was a postdoctoral fellow at AT&T Bell Laboratories.

Stifel Recruits

Stifel Financial said it hired several advisors from Wells Fargo, Merrill Lynch and Hilliard Lyons.

Mark Melillo has joined the firm’s Yardley, Pennsylvania, office as a branch manager; he comes from Wells Fargo Advisors, where he was responsible for $81 million in client assets. Grayson Hopper is now part of the firm’s Austin, Texas, office from Merrill Lynch, where he was responsible for $74 million in client assets.

Also, Allan Bowden moved to the firm’s Memphis, Tennessee, office from Hilliard Lyons, where he was responsible for $75 million in client assets. He follows Jack and Robert Mayer, who joined Stifel’s Memphis office from Hilliard Lyons in December.

“Advisors at bank-owned institutions continue to join Stifel in the first quarter.  They appreciate the fact that we have liability-side capabilities, but we do not push or cross-sell banking solutions,” according to John Pierce, head of Recruitment.

Other Hires

Securities America has added the Lanzetta Group, based near Philadelphia. The former Questar Capital team has 11 advisors and works with $175 million in assets. Securities America, a unit of Ladenburg Thalmann.

John Lanzetta, principal of independent wealth management firm LifeSpan Financial in Quakertown, Pennsylvania, serves as the group’s OSJ.

“The advisors of the Lanzetta Group have a proven track record, and we are excited to welcome them to our platform, according to Gregg Johnson, Securities America’s executive vice president of branch office development and acquisitions.

The team includes practices in Pennsylvania, Connecticut and Florida.

“What really impressed us during our extensive due diligence process was Securities America’s understanding of the full range of those businesses, along with their ability to support each one of them …,” Lanzetta said in a statement. “We are now able to drive even stronger results for our advisors and better service for our clients.”

Meanwhile, LPL Financial said Lincoln Kopetski, CFP, and Joe Cilley, CFP, have aligned with Triad Financial Strategies, an existing LPL-affiliated firm supported by its broker-dealer and hybrid registered investment advisor platforms. The advisors managed roughly $100 million of assets and join from U.S. Bancorp.

“LPL is our welcome to the 21st century,” according to Cilley, who was previously affiliated with LPL from 2002 to 2011. “The investments they have made in their technology and other solutions played a big part in our decision … And with the recent enhancements to pricing, we feel we are better positioned for long-term growth.”

Triad is based in Issaquah, Washington, and includes six financial advisors.


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