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Raymond James Adds $1.2B Bank Team From LPL

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Photo of Raymond James building near Tampa, FloridaRaymond James Financial Institutions Division has added 17 advisors managing a combined $1.2 billion in client assets from Tennessee-based FirstBank’s investment program.

The 27-person FirstBank team joining Raymond James was previously affiliated with LPL, Raymond James said Thursday. The team will offer investment and wealth management services to its clients through Raymond James Financial Services.

In August, FB Financial Corporation, the parent company of FirstBank, completed a merger with Franklin Financial Network, the parent company of Franklin Synergy Bank. As a result of the merger, FirstBank’s advisors and professionals are joining their colleagues at Franklin Synergy in partnering with Raymond James.

Franklin Synergy Bank has been aligned with Raymond James FID since 2004. Its combined investment program includes 22 advisors, 10 support staff and a branch manager, and is led by Tripp Thompson, president of FirstBank Investment Partners.

FirstBank’s partnership with Raymond James FID “will allow us to continue bringing a high level of service to our investment customers,” according to Thompson.

Thompson became FirstBank president in 2018, according to his LinkedIn profile. He became affiliated with LPL in 2019, according to his report on the Financial Industry Regulatory Authority’s BrokerCheck website.

“We are excited to continue our valuable partnership with the advisors and professionals from Franklin Synergy Bank, and to begin our new alignment with the team at FirstBank, as the two programs build their new legacy together as FirstBank Investment Partners,” according to Tim Killgoar, senior vice president and FID national director.

“We are proud they found Raymond James’ sophisticated technology and high-touch support to best fit their needs, and that they chose Raymond James FID as the optimal partner in delivering wealth management services to clients,” he said in a statement. “We look forward to working with FirstBank Investment Partners as they continue to serve clients and grow their program.”

Raymond James Financial now has about 8,200 financial advisors in the U.S., Canada and overseas, with total client assets of $993 billion. FirstBank has 87 full-service bank branches across Tennessee, South Central Kentucky, North Alabama and North Georgia, and it has about $11.0 billion in assets.

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