Osaic and Wells Fargo have notched new additions to their respective networks, with a two-decade veteran planner joining one of the hybrid RIA's affiliate firms in Maryland and two new teams making the move to the banking giant's employee advisor channel.
On Tuesday, StoneBridge Advisors, an Osaic affiliate based in Maryland, revealed its addition Ryan Grossman as a financial planner.
With two decades of industry experience, Grossman previously served clients at VALIC Financial Advisors and now joins StoneBridge alongside longtime colleagues Susan Gallant, his practice manager, and Michelle Kellner, client service coordinator.
Grossman brings with him approximately $210 million in assets under advisement, adding to StoneBridge’s growing presence in the Mid-Atlantic. The firm, founded in 2005 by Michael Ward, is led by managing partner Sarah Cicero and focuses on customized financial strategies, including retirement and estate planning.
“Ryan’s depth of experience and client-first mindset make him an ideal fit for our team,” said Steve Koziol, chief operations officer at StoneBridge.
Grossman’s addition follows a string of advisor and executive moves at Osaic. The hybrid RIA recently welcomed Kansas-based wealth planning firm NoxNumis and the former LPL advisor trio at Ever Wealth. Last month, it also tapped Saumya Bhavsar as its chief legal officer and general counsel.
Meanwhile, Wells Fargo Advisors continues to grow its employee-based channel with two additions in key regional markets.
Wells Fargo Advisors includes roughly 12,000 bank advisors, wealth advisors, and independent advisors.
In Cincinnati, the Bautista, Lehan & Reiser Group transitioned from PNC Investments. The team includes advisors Al Bautista, Chris Lehan, and Edward Reiser, supported by senior client associate Natalie Byrd. The group collectively managed around $400 million in assets and generated $2.8 million in trailing 12-month revenue prior to joining Wells Fargo.
In Paramus, New Jersey, advisor Harish Jashnani joined from UBS. A million-dollar producer with over $120 million in assets under management, Jashnani is the fifth addition to the Paramus branch in the past six months.
Aside from UBS, Jashani's career spanning more than three decades included a decaes-long affiliation with Morgan Stanley, according to his BrokerCheck profile.
“Financial advisors are making the move to Wells Fargo Advisors because we have one of the best platforms where FAs can holistically run their practices the way they want to run them, and in turn grow the way they want to grow,” said Bill George, branch manager in Paramus.
At the start of this year, Wells Fargo said it would look to increase its fleet of premier bankers and financial advisors as it looked to drive customer growth in its consumer businesses.
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