Raymond James Nabs $800M Wells Fargo Team in Salt Lake City
Meanwhile, Stifel says it added a Wells Fargo rep and an advisor duo from UBS with a combined $213 million.
Raymond James has added a pair of Wells Fargo Advisors in Salt Lake City who work with about $800 million in assets — Daniel Kaschmitter and William Gelegotis are joining the firm’s employee channel. Meanwhile, Stifel Financial says it added a Wells Fargo rep and an advisor duo from UBS with a combined $213 million.
Kaschmitter has been in the business for 25 years. He’s worked as a managing director and investment officer at Wells Fargo and its predecessor firms for 18 years. Earlier, he was with PaineWebber and UBS.
Gelegotis has 40 years of industry experience and cut his teeth at PaineWebber; he spent 18 years with Wachovia and Wells Fargo.
The new Raymond James team he is a part of includes senior investment/portfolio analysts Alexander Kaschmitter, CFP, and Steven Pagoaga, as well as senior client service associate Jennifer Zuspan.
“The independence and freedom this firm offers and the ability to run your own business is very unique in this industry,” according to Daniel Kaschmitter. “In addition, having advanced, cutting-edge technology at the tips of your fingers is unmatched.”
Stifel Hires
Stifel said Friday that Frank (Rick) Bellar Jr. and Frank (Trey) Bellar III have joined it in Cookeville, Tennessee, from UBS, where they managed $86 million and $50 million, respectively.
The senior Bellar has 41 years in the business and began his career at J.C. Bradford, while the younger Bellar has been an advisor for a decade. (Both are still listed as UBS advisors on BrokerCheck.)
In addition, Zachary Karr has moved to Stifel’s Washington, D.C., Private Client Group office from Wells Fargo, where he worked with $77 million. He has 16 years of industry experience.
“We have shown throughout 2019 that regardless of protocol or non-protocol, the advisor brings their book to Stifel,” said John Pierce, head of recruitment, in a statement.