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Practice Management > Building Your Business > Recruiting

Wirehouse Reps Move to Raymond James, Ameriprise and LPL: Recruiting Roundup

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Raymond James’ Alex. Brown division added Jon Dayton, a Merrill Lynch advisor with over 30 years in the business and $230 million in client assets. in San Francisco.

“The West Coast continues to be an important focus for Alex. Brown and Raymond James, particularly in California, where Alex. Brown has such a rich history,” according to Alex. Brown President Haig Ariyan. “Alex. Brown’s strong brand and resources continue to attract talented advisors like Jon.”

Dayton also worked as a financial advisor with Montgomery Securities and Banc of America Securities.

“What attracted me the most to Alex. Brown was the combination of a sophisticated boutique with the strength, stability and technology of an industry leader like Raymond James. Alex. Brown provides the expertise, ingenuity and resources I need to best serve my clients,” he said in a statement.

Also bringing on a wirehouse advisor is Ameriprise Financial, which recruited a team from Wells Fargo in Omaha with about $174 million in client assets.

Mike Wincek joined its employee-advisor channel, along with advisors David Casteel and Justin Bostic. The team — which has more than 39 years of combined time in the business — have named their practice Wincek Casteel Financial Strategies.

“We chose the firm because we embrace financial planning — and that’s the core of what Ameriprise does, and we like that the firm has the capital to keep up with changes in technology,” according to Wincek. “Technology is paramount to my clients and the way we do business.”

Meanwhile, LPL Financial attracted a team to its hybrid channel from Wells Fargo with $110 million in Glastonbury, Connecticut. The group includes advisors Kevin Carroll and Sam Shehu,who are aligning with Gateway Financial Partners.

“We are excited to welcome Kevin and Sam, and are proud that our support and our team stood out to them in the independent market,” said David Wood, founder of Gateway Financial Partners, in a statement.

“Our front- and middle-office resources allowed them a quick and efficient transition to our firm, and we were able to quickly match them with a full suite of marketing and technology resources to launch their new business right at day one,” Wood added.

According to Rich Steinmeier, LPL Financial managing director and divisional president, Business Development, “We are dedicated to delivering our advisors with the market-leading resources, tools and technology that help them win in their markets. We look forward to a long and productive relationship with the entire Gateway team.”

News from Securities America

Securities America, a unit of Ladenburg Thalmann, says a group of six hybrid advisors who do business as the Syntegra Private Wealth Group of the greater St. Louis area has joined it and Arbor Point Advisors — which is Securities America’s second multi-custodial, corporate RIA.

Syntegra works with $459 million in total client assets and “has a proven track record of going the extra mile for its clients,” according to Gregg Johnson, Securities America’s executive vice president of branch office development and acquisitions. “As the group searched for a new platform, they sought a partner with a strong culture and robust infrastructure to help them take the next step in their ongoing growth story. … Securities America is pleased to serve as that partner.”

Syntegra is led by CEO Thomas A. Burke and offers wealth management and tax services to its clients. Its three offices are in Chesterfield, St. Charles and Troy, Missouri.

“In Securities America, we’ve found a partner that can help us scale up our offerings and support our growth,” Burke said in a statement. “At the end of the day, we’re focused on serving our clients better and helping them live their best lives, prepare for the unexpected and leave a legacy – and our affiliation with Securities America positions us to accomplish these goals.”

In 2018, Securities America’s gross recruited advisor headcount was 323, while gross recruited client assets were $2.07 billion.

Separate Developments

ProEquities, an independent financial advisory and brokerage firm and unit of Protective Life, hired veteran executive Tammy Robbins to serve as its vice president of Business Development. She will report to ProEquities President and CEO Christopher Flint.

Prior to joining ProEquities, Robbins was assistant vice president of Business Development at Lincoln Financial Network. She also was vice president and head of Advisor Recruitment at United Planners Financial Services of America.

“Over the years, [Robbins] has established herself as an industry leader with a proven ability to work alongside both executives and advisors to create innovative opportunities for growth,” according to Flint. “Her vast experience, not to mention the depth of her skills, will be a tremendous asset to our firm as we continue to develop new solutions and services that position us for greater success in the years to come.”

In her new role, Robbins will work to strengthen ProEquities’ service experience, including best practices that can improve efficiency and boost revenues, advisor study groups, coaching and more.

She will also lead ProEquities’ advisor-talent initiatives, which focus on creating “opportunities for younger advisors to team with experienced practice leaders and to assume the books of businesses of exiting advisors,” the firm says.

Her hiring follows ProEquities’ recently formed partnership with The W Source to “expand professional networking and business coaching resources for the firm’s women financial advisors.”

“As someone who is passionate about helping advisors support their clients and reach their business goals, I could not think of a better fit, both from a cultural and business standpoint,” Robbins said in a statement.

ProEquities’ RIA and a broker-dealer are headquartered in Birmingham, Alabama, and work with more than 700 independent advisors with over $16 billion in client assets.

Separately, RIA EP Wealth Advisors of Torrance, California, says that it has three new equity members: Regional Director Lynn Ballou, CFP; Operations Director Sherryl Ray; and Erin Voisin, CFP, director of Financial Planning.

“Lynn, Sherryl and Erin embody the entrepreneurial and community-centric spirit that is the hallmark of our firm. They have made a significant impact through their work with colleagues and clients and their dedication to Investing in Women. Our vision is to have diverse voices in the corporate environment,” according to EP Wealth President and CEO Patrick Goshtigian, CFA.

Ballou, Ray and Voisin are leaders of EP Wealth’s Investing in Women initiative.

“These new partners bring important voices to the helm and further illustrate EP Wealth’s commitment to empowering all employees,” he added.

Ballou joined the firm in January 2016, when her firm was acquired by EP Wealth, and is based in the firm’s Lafayette, California, office.

Ray was the first employee to join co-founders Derek Holman and Brian Parker in 2003. She has spent about 20 years overseeing a growing administrative staff responsible for Client Relations.

Voisin moved to EP Wealth three years ago and has over a decade of wealth management experience. She and Ray work in the firm’s Torrance center.


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