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Raymond James Adds 12 Ex-Wirehouse Advisors Managing $2.2B

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What You Need to Know

  • The 12 advisors that Raymond James has added come mostly from Wells Fargo, but also from Merrill Lynch and Morgan Stanley.
  • The latest additions join Raymond James as it continues to grow its South Florida footprint.
  • Raymond James now has a total of about 8,300 advisors managing total client assets of $1.15 trillion.

Raymond James added 12 financial advisors in South Florida who managed a combined total of more than $2.2 billion in client assets at Merrill Lynch, Morgan Stanley and Wells Fargo, Raymond James Financial said Monday.

The advisors joined the firm’s Raymond James & Associates employee advisor channel, at its South Florida Complex’s Coral Gables, Fort Lauderdale, Boca Raton and Palm Beach Gardens office locations, led by manager Stephen Sullivan, according to the firm.

Raymond James Financial now has a total of about 8,300 financial advisors throughout the U.S., Canada and overseas, managing total client assets of $1.15 trillion, it said.

The new advisors joined the firm as “we continue to build on our strong presence in South Florida,” according to Tash Elwyn, RJA president and CEO.

Most of the new advisors came from Wells Fargo, which declined to comment on losing the advisors to Raymond James.

Joining the Coral Gables office from Wells Fargo in May were advisors Miguel Viyella ($537 million in assets) and Rafael Sagarbarria and Oscar Gonzalez (who together formerly managed about $121 million in assets).

Advisors joining the Coral Gables office from Wells Fargo in April were Maria Jose Pessoa ($130 million), Lizzette Inchaustegui ($160 million), Orlando Garcia ($527 million) and Javier Ferreira ($252 million).

Also now operating out of RJA’s Coral Gables office are former Wells Fargo advisors Andres Galvez and Edwin Shedd, who joined in March and previously managed about $220 million in combined client assets. The Coral Gables branch is managed by Mike Origlia.

“We were looking for a firm that has a business owner mentality, combined with a distinctive culture, that shares the same values of putting its clients first, and we are pleased to have found that in Raymond James,” according to Shedd.

Meanwhile, added to RJA’s Fort Lauderdale office in April was advisor Griselda Uzcategui, who managed about $120 million in client assets at Wells Fargo, and said he was attracted to the “culture and focus on supporting advisors” and wealth management clients at Raymond James. The Fort Lauderdale office is managed by Richard Caccamise.

Advisor Charles Fischer, who previously managed $100 million in client assets at Morgan Stanley, joined RJA’s Boca Raton office that is managed by Dan Kraus in May.

And advisor David Letourneau joined RJA’s Palm Beach Gardens location in May from Merrill Lynch, where he previously managed about $60 million in assets. Joining him is advisor trainee Benjamin Graybow, who is part of the firm’s Advisor Mastery Program for new financial advisors. RJA’s Palm Beach Gardens office is managed by Larry Gonnello.