Raymond James added a $252 million team from Morgan Stanley to its employee channel, while its associate firm Steward Partners picked up a Merrill Lynch group with $134 million.
In Doylestown, Pennsylvania, Matthew T. Pruitt and Matthew J. Fisher, CFP, came on board Raymond James & Associates. Both were with Morgan Stanley for the past 10 years and also served in the military.
The team operates as Patriot Wealth Management of Raymond James and includes Louise A. Clauso, CFP, senior financial planning consultant, and Dale A. Hoernlein, senior registered service associate.
“The client-centric view at Raymond James is incredibly unique,” according to Pruitt, branch manager and senior vice president, investments. “We built our practice around helping people who serve others first, which aligns perfectly with the client-first culture. The firm’s value of integrity and the strong support and autonomy that is offered by Raymond James as our partner were significant factors in our decision.”
Pruitt has 20 years in the business, while Fischer has roughly 15. Clauso has been in the industry for more than three decades, and Hoernlein has about 18 years of experience.
Meanwhile, Steward Partners opened its newest office in Austin — the firm’s 21st location and third in Texas. The office now serves the Dooley Group, comprised of Gene Dooley, Wes DeVoe and Taryn Bertetto, previously with Merrill Lynch.
“We’re thrilled to have Gene, Wes and Taryn as our first partners in one of the fastest growing markets in the country,” said Chris Barton, divisional president at Steward Partners in a statement.
“Deciding to move is never an easy decision, but after learning about Steward Partners, their fast growth, and most importantly the value we would be able to add to our clients by aligning with them, the choice became clear,” according to Dooley, who began his career in financial services in 2009 and joined Merrill Lynch in 2012.
DeVoe worked with clients on insurance solutions before officially joining Merrill Lynch as an advisor in 2016. Prior to joining the industry, he worked for ESPN as a statistics analyst.
Raymond James also says Patrick O’Connor, CFA, has been promoted to Northern Division director of its employee channel.
O’Connor has been with the firm for 18 years and most recently was the Florida regional director in the Eastern Division. He joined Raymond James in 2001 to lead product development and advisor support for the Alternative Investments Group and in 2006 co-founded the Wealth Solutions department.
“I am humbled and thrilled to continue the outstanding support of our advisors and their clients in the Northern Division,” O’Connor said in a statement. “It’s a privilege to come to work each day at a firm that puts clients’ interests first and respects the individuality and professional judgement of financial advisors.”
“Throughout his tenure, Patrick has done an outstanding job supporting the Florida region and providing best-in-class service,” according to Raymond James & Associates President and CEO Tash Elwyn. “He highlights the firm’s strong focus on putting people first and celebrating our unique culture.”
LPL Financial says Signet Strategic Wealth Management of Westlake Village, California, has joined its hybrid platform. Christopher Soulios, CFP, founder of Signet, and financial advisors Rich Linsday and Mike Toomey work with about $180 million of client assets and formerly were affiliated with Ameriprise Financial.
“Instead of urging a ‘grow, grow, grow’ approach, LPL’s platform and services are designed to help us manage our business how we see fit,” Soulios said in a statement. “And they make available the resources you need to do it your way.”
He added: “In fact, we took advantage of the marketing resources they have available for help with building our brand and logo and our digital presence, including the website and our social media pages. The ability to outsource a service like that to LPL, who understands our business, is game changing for those of us in smaller firms.”
LPL also says advisors Joey Price and Mary Ellen Holder have joined its hybrid platform from Wells Fargo Advisors Financial Network, where they managed roughly $140 million of assets.
Price and Holder created Price Investment Group in 2009, and their client base grew in 2016 when Price acquired Ouachita Financial Advisors from a retiring advisor. The Arkansas-based team includes administrative assistant Marti Pedigo.
“We are invested in our clients and their long-term financial success. Planning for their future isn’t a sprint, it’s a marathon,” Price said in a statement. “With LPL, we get the support of an independent platform that provides access to a wide range of investment solutions, giving us the choice and flexibility to build a strategy that uniquely suits each client.”