Raymond James nabs $470M Merrill team

Raymond James nabs $470M Merrill team
The broker-dealer giant is extending its Midwestern presence as a veteran-led team joins its employee advisor channel.
OCT 21, 2024

Raymond James has bolstered its presence in the Midwest as a team of wirehouse advisors make a strategic switch.

The firm announced Thursday its employee advisor channel, Raymond James & Associates, has welcomed an advisory team that managed $479 million in assets in Idaho.

The Idaho Falls-based team led by advisor trio Larry Stucki, Brandon Peebles, and Jake Waddoups earned a spot among Forbes' best-in-state wealth management teams as the PSW Group.

They're embarking on a new journey under the banner of Riverview Wealth Advisors of Raymond James, joined by senior registered client service associates Carla Greenough and Shauna Misseldine.

Riverview Wealth Advisors will operate as part of Raymond James’ Boise branch, which is overseen by complex manager Todd Lovell. The team serves a diverse client base that includes families, individuals, retirees, and business owners.

In a statement, Michael O’Meara, Midwest regional director for RJA, praised the "seasoned team," highlighting how their "focus on client-first service and building long-term relationships" aligns with Raymond James's culture.

“This transition marks an important step in aligning our team’s values with a firm that prioritizes both client service and independence,” said Peebles, who brings two decades of experience at Merrill to his new firm.

Stucki, who's leveraging 27 years of industry experience to his new role as senior vice president of investments, highlighted those shared values as "key to both our team’s success and clients’ continued satisfaction."

Waddoups, whose decade-long career began with Vanguard, echoed the importance of the Raymond James culture as well as its platform of supported independence.

“The firm’s innovative resources and service-oriented culture empower our team to continue delivering the high-quality, personalized service our clients expect,” he said.

Apart from the Riverview Wealth Advisors team, RJA's October recruitment record in October includes a $1.1 billion team that switched allegiances from RBC Capital Markets and an experienced California team that previously managed $600 million at Merrill.

Latest News

Farther adds $120M firm with science-backed approach to wealth management
Farther adds $120M firm with science-backed approach to wealth management

The latest addition to the tech-driven firm combines wellness and finances.

Cutting back on fun: a third of Americans plan to reduce spending on vices
Cutting back on fun: a third of Americans plan to reduce spending on vices

Your clients are likely to be spending on vices, depending on their generation.

Gold continues to shine, but will jobs data change that?
Gold continues to shine, but will jobs data change that?

Traders are awaiting the latest snapshot of US economic strength.

Veritas could be about to snap up one of Wall Street’s oldest names
Veritas could be about to snap up one of Wall Street’s oldest names

Private equity firm reportedly in talks to make an acquisition.

Trump wants to scrap one of private equities' tax breaks, again
Trump wants to scrap one of private equities' tax breaks, again

Exemption enjoyed by PE and VC firms was under fire in his first term too.

SPONSORED Taylor Matthews on what's behind Farther's rapid growth

From 'no clients' to reshaping wealth management, Farther blends tech and trust to deliver family-office experience at scale.

SPONSORED Why wealth advisors should care about the future of federal tax policy

Blue Vault features expert strategies to harness for maximum client advantage.