What You Need to Know
- The Silver Liberatore Group has joined the Raymond James branch in Deer Park, Illinois.
- The team says it was attracted to Raymond James because of the independence offered and the firm's tech offerings.
- Raymond James increased its advisor headcount in Q2 after improving its recruitment packages.
Raymond James has added an advisor team from UBS, where they managed more than $1.08 billion in client assets, Raymond James said.
UBS on Wednesday declined to comment on losing the team, which is now operating as The Silver Liberatore Group of Raymond James.
Raymond James now has $1.09 million in total client assets, it said Monday. The company said last week that it saw overall advisor headcount increase by 94 advisors, or 1%, in the second quarter to 8,327 from the prior quarter after the firm improved its recruitment packages to be more competitive against rivals. The record number of advisors at the end of Q2 was up by 179 over Q2 last year, representing a 2% increase, it said.
Joining Raymond James & Associates, the firm’s employee advisor channel, at its Deer Park, Illinois branch are advisors Earl Silver, Ralph Liberatore, James Hack and Anastasios Liosatos. Also joining are Katherine Micek, relationship manager, and Jill Bradley, senior client service associate.
The Deer Park branch, managed by Chad Danforth, is part of the firm’s Illinois Complex, managed by Brian Lampsa.
“The Silver Liberatore Group is a client-focused team with more than 100 years of combined financial services experience,” according to Michael O’Meara, Midwest regional director for Raymond James. For advisors like them, “who are looking for that unique combination of independence and support,” Raymond James “continues to be an optimal destination for them to go and grow,” he said in the announcement.
“Raymond James’ commitment to book and practice ownership, and the support they provide to illustrate that commitment, was a big part of what drew us to the firm,” according to Silver, senior vice president, wealth management at The Silver Liberatore Group.