An adviser team managing $350 million at Wells Fargo Advisors in Pasadena, Calif., has gone independent.
Advisers Austin Heberger and Gavin Lee have set up Arroyo Capital Partners, which has affiliated with Raymond James. They brought with them Jenifer Graybill, office manager, and Leonard Emocling, client services manager.
Mr. Heberger began his career in 1993 at GT Global Mutual Funds. In 1994, he moved to Smith Barney; he joined Wells Fargo Advisors in 2003.
After short stints at two firms, Mr. Lee joined Merrill Lynch in 1997. He moved to Wells Fargo in 2004.