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Practice Management > Building Your Business > Recruiting

Woodbury Adds 2 Teams With $378M in Assets: Recruiting Roundup

By Janet Levaux

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Woodbury Financial Services, part of the Advisor Group of independent broker-dealers, says it has recruited two teams with about $378 million in client assets.

The IBD, which has some 1,200 affiliated registered reps, says Life Wealth Principles and National Financial Advisors have joined it from NEXT Financial and Kestra Financial, respectively.  

The news comes one month after Woodbury completed its purchase of Capital One’s in-branch, full-service investment management and brokerage division. It now has $39 billion in assets under advisement.

Life Wealth has managed about $312 in AUA and is based in Golden, Colorado. National Financial Advisors has its headquarters in Denver, where its advisors work with roughly $66 million in AUA.

“Woodbury’s recruiting efforts are underpinned by a core belief that advisors perform vital work, and deserve custom, specialized services that meet their specific needs,” explained Woodbury President & CEO Rick Fergesen, in a statement.

Other News

Meanwhile, Raymond James’ independent channel added advisors Gordon Schnitzler, CPA, and Joseph Schnitzler, CFP, in Chesterfield, Missouri. The father-son team moved from Stifel Nicolaus, where they managed $141 million in client assets, according to David Sisemore, Midwest regional director for Raymond James Financial Services.

Gordon and Joseph, a father-son team, previously managed $141 million in client assets while at Stifel, Nicolaus & Co. They are joined by client service associate Joyce Bitter.

“Raymond James continues to be an attractive destination for experienced financial advisors looking for the right balance of freedom and advisor support,” said Sisemore, in a statement. “I’m pleased that Gordon and Joseph found our model to be the best fit for them and their clients as they build and grow their practice as independent advisors.”

Gordon began his work as an advisor at A.G. Edwards more than 27 years ago and moved to Stifel as a senior vice president in 2009. Earlier, he worked for with Deloitte & Touche and Citicorp, where he served as CFO and treasurer of U.S. life insurance operations.

Joseph launched his career in consumer lending with Wells Fargo before moving into the insurance field with Northwestern Mutual Life and then joining his father at Stifel in 2009.

Janet Levaux

@Think_JanetL

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