Two advisor teams have made significant platform moves this week, with a California-based group heading to Raymond James Financial Services and a Kentucky wealth practice joining Osaic affiliated Thoroughbred Financial.
RJFS has welcomed KWM Wealth Advisory, a four-advisor team based in Pasadena, California, managing more than $1 billion in client assets. Led by managing directors Kenneth A. Sanchez, Lee Wolfe, Mitchell Kauffman, CFP, and KaNoi Lam, CFP, previously with Stifel.
The advisors are supported by nine additional financial services professionals. KWM also maintains a presence in Honolulu, Hawaii, and serves families, business owners, corporate executives, pre-retirees, and retirees through comprehensive wealth management and financial planning.
Technology was cited as the primary driver behind the move. "Raymond James' ongoing focus on technology was among the primary reasons KWM decided to align with the firm," said Sanchez. "Its leadership clearly demonstrates priorities that align with clients and advisors alike."
The hire fits Raymond James' broader push to expand its independent channel on the West Coast.
In Kentucky, Southern Ridge Advisory, led by Steve Allen and his son John Allen, has joined Thoroughbred Financial, an OSJ affiliated with Osaic.
Steve Allen founded Southern Ridge on the back of a successful CPA practice, building a firm known for deep, trust-based client relationships rooted in tax and accounting expertise. The move to Thoroughbred is part of a deliberate succession plan with John Allen joining to help run day-to-day operations, with a clear path to eventually take over leadership of the practice.
The Allens cited the need for stronger support infrastructure, a more collaborative culture, and room to grow as the key factors behind the move; resources they found harder to access independently.
Southern Ridge Advisory will continue serving its existing client base under the Thoroughbred and Osaic umbrella while building out the next generation of firm leadership.
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