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RBC, Raymond James and Stifel Nab UBS Reps: Recruiting Roundup

By Janet Levaux

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RBC Wealth Management, Stifel Financial and Raymond James all recently added advisors from UBS with over $805 million of combined client assets.

RBC says it recruited Tony Keiser for its Pittsburgh-Three Rivers office. Keiser has 30 years of industry experience and manages about $340 million in client assets, with $3.2 million in yearly fees and commissions. He was with UBS since 2009.

“RBC Wealth Management has a long-standing reputation for putting the needs of clients first,” according to Keiser.  “When considering moving to RBC, I was incredibly impressed by the firm’s unique culture, resources, and passion, making it a great place to continue to grow my business.”

Separately, Raymond James recruited advisors Lori Siegel, CFP, CRPC, and Robert Russo, CFA, CFP, to its independent channel in Houston. The duo are founding partners of Centrix Wealth Partners. At UBS, they managed some $300 million in client assets.

“We knew the best next step for our team was to become an independent practice. It was a matter of finding the right firm, and Raymond James was the premier fit for us, and most important, our clients …,” said Siegel, in a statement. “The firm’s culture, combined with the breadth of support, are what attracted us to the firm.”

Siegel has been in the industry for more than 22 years, including time with Smith Barney prior to joining UBS. Russon has about 14 years of experience in the business and also worked for UBS and Smith Barney.

“Lori and Robert are an experienced team and we are excited to welcome them to Raymond James as they grow their independent practice,” according to Kirk Bell, Central regional director for Raymond James Financial Services.

“We are proud that Raymond James’ culture, resources and support continue to attract talented, client-centric advisors like Lori and Robert to the firm.”

Meanwhile, Stifel says Mark Scaglione has joined the firm’s Tampa, Florida, office from UBS, where he was responsible for $166 million in client assets.  

Scaglione was with UBS for over 30 years. He started in the business at Dean Witter in 1983.

Stifel also recruited the father-son team of Michael and Patrick Dammert in Covington, Kentucky. They come to Stifel from Hilliard Lyons, where they managed $70 million.

“We are excited about our expanding footprint in Kentucky, Florida, and other states to better serve our advisors and their clients,” according to John Pierce, Stifel’s head of recruitment.  “We are focused on high-quality advisors that have matching cultural values, and Mark, Michael, and Patrick are perfect examples of advisors who are dedicated to serving their clients.”

UBS’ advisor headcount in the Americas stood at 6,790 as of March 31, which is down 60 advisors from the prior quarter and 166 from a year ago.

Janet Levaux

@Think_JanetL