Janney Nabs 14 Wirehouse Reps, as Baird Grabs 4: Recruiting Roundup

Raymond James says it added FAs Bruce Hoffman, Michelle Orcutt and Matt Paul to its independent channel from Wells Fargo in Corpus Christi, Texas. The members of Coastal Bend Wealth Partners work with about $240 million in client assets and have yearly fees and commissions of about $1.7 million.

“We were looking for a firm that has a client-first approach and an independent-minded, forward thinking culture,” according to Orcutt. “The freedom and flexibility that Raymond James offers were important factors for us and our decision to make the move.”

Orcutt began her financial-services career in 1990 as a banking regulator and then a banker. She joined A.G. Edwards in 2002; it became Wachovia Securities and later Wells Fargo Advisors.

Hoffman started in the business almost 30 years ago at Merrill Lynch. And Paul, began work as an advisor with Dean Witter in 1989, moving to A.G. Edwards in 1991.

“They are an experienced group of financial advisors who have built their businesses with a client-first approach,” said Kirk Bell, Central regional director for Raymond James Financial Services, in a statement. “We’re pleased they chose Raymond James as their partner as they continue to grow their independent business and enhance their wealth management services to clients.”

Separately, Wells Fargo Advisors Financial Network, the bank’s independent channel, named Jeff Taylor as regional head of the Pacific South. Taylor will be responsible for independent practices and recruiting in Arizona, Southern California, Hawaii, Nevada, New Mexico and Utah.

“With close to 25 years of experience in the financial services industry, we feel Jeff is the perfect choice to oversee the Pacific South region,” according to Alex David, head of branch development at FiNet

Taylor most recently served as senior vice president and regional brokerage manager for the San Francisco region of Wells Fargo Advisors. He joined Wells Fargo Advisors — known then as Wachovia Securities—in 2006 and today serves on the United Negro College Fund board in San Francisco.

Meanwhile, a spokesperson confirmed that Morgan Stanley expanded the leadership team of Graystone Consulting. Graystone is an institutional investment consulting business that works with over $300 billion in institutional advisory assets and includes 50-plus institutional consultant teams.

Jodie Gunzberg, previously managing director and head of U.S. Equities at S&P Dow Jones Indices, joined Morgan Stanley as head of the Graystone Investment Office.  

The newly established Investment Office aims to expand Morgan Stanley’s institutional research coverage and further tap into the Morgan Stanley’s resources, while pursuing new business and strengthening client relations, according to the firm.