Advisor moves: Raymond James lands $1.25B team as Merrill loses two

Four advisors who managed approximately $1.25 billion at D.M. Kelly & Company joined Raymond James Associates, RayJay's employee advisor arm this week, expanding the broker-dealer's Midwest presence as it welcomes another experienced team..

The incoming Clive, Iowa practice now operates as Greenwood Wealth Partners of Raymond James. It includes David Lorbiecki, Dan "Chris" McPhail Jr., David Haas and Willis Gaer, and practice business manager Holly Ellsworth made the move with them.

Lorbiecki and McPhail are coming in as senior vice presidents of investments, and Haas is vice president of investments.

Lorbiecki, the most experienced of the group, entered the industry in 1993 and spent 30 years at his prior firm. McPhail started his career in 2007, Haas in 2008 and Gaer in 2022.

Lorbiecki pointed to Raymond James's culture as a deciding factor. "Just as important, Raymond James' client focused culture and respect for our independence enable us to run our business in a way that reflects who we are: hardworking advisors focused on doing what is right for our clients," he said.

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UBS recruits Merrill Lynch duo in Silicon Valley

On the West Coast, John Pham and Jimmy Yip left Merrill Lynch for UBS offices in Palo Alto and San Jose, Calif., UBS said Friday.

Pham has spent more than 22 years advising Silicon Valley executives, entrepreneurs and families. Yip has worked in financial services since 2004, serving professionals, business owners and their families.

Client associates Leslie Vinoya, Kimberly Russell and Randall Bane also moved to UBS.

The team is now part of the UBS San Francisco Market, led by market executive Emily de la Reguera. It reports to Silicon Valley market director Jacqueline Kehoe, who worked with the advisors during her time at Merrill. UBS said that relationship was instrumental in the team's decision to move.

"I have had the opportunity to work alongside this team and witness firsthand their dedication to delivering outstanding client service and fostering long-term relationships," Kehoe said.

"Their experience serving the unique needs of Silicon Valley executives, entrepreneurs and families, together with the strength of our global wealth management platform, makes them an outstanding addition to UBS and an important part of our continued growth in the region," added De la Reguera.

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Ameriprise grows $2 billion Boca Raton practice

Colin Gates, a next-gen advisor that managed more than $120 million at Merrill Lynch, Pierce, Fenner & Smith, has crossed over to the branch channel of Ameriprise, the firm said Thursday.

Gates is joining The Atlantic Group in Boca Raton, Florida, which is led by founding partners Andrew Lerner and Logan Shalmi.

"Ameriprise immediately stood out because of its commitment to helping advisors grow and the investments it continues to make in technology, planning capabilities and operational support," Gates said.

The Atlantic Group is itself a recent arrival. It came over from Oppenheimer in October 2025, when Ameriprise brought aboard the Boca Raton-based practice managing more than $1.6 billion in client assets.

Since then, Ameriprise said the practice has added three financial advisors, three support staff and more than $400 million in client assets. Following that growth, the operation now includes 12 advisors and 10 support staff overseeing approximately $2 billion.

Locally, the team is supported by branch manager Drew Granauro, complex director Daniel Landrau and regional vice president Michael Rearden.