Abbie Osterbur and Niralee Patel, who managed $160 million at Merrill Lynch, have moved to Raymond James & Associates, the employee adviser channel of Raymond James, the firm announced Tuesday.
They are joined in the move by a staffer and will do business as Osterbur Patel Wealth Management in Champaign, Illinois.
“We were attracted to Raymond James because of the firm’s client-first mentality and planning-centric approach to wealth management,” Osterbur said in a statement. “The promise of autonomy to run our practice as we see fit was also a big draw.”
Osterbur began her career at Merrill Lynch in 2012. Patel joined Merrill Lynch in 2013 and had been an adviser there since 2014.
Also, Orion has added BlackRock, Fidelity, and Vanguard to its custom portfolios suite, and RedBlack has set up a new headquarters after crossing a trillion-dollar milestone.
Also, New York-based Legacy Edge Advisors names its first-ever CEO, while Novare Capital Management hires a Vanguard veteran with a multigenerational planning focus.
Asset managers are racing to bring private market products to retirement plans, but cost and liquidity concerns linger.
Treasury's latest tax-exemption crackdown on private schools lands in the wake of a separate push to restrict refundable credits for some immigrant filers.
Workforce trust measures predicted which companies came out ahead during COVID-19. The same dynamic may now be playing out across the AI transition — and the data suggests the spread could be just as wide.
Northern Trust’s Ken Lassner shows advisors how to convert volatility into after-tax portfolio gains
Dan Biagini of American Equity says the steady decline of pensions, longer lifespans and a reset in interest rates are rewriting how advisors build retirement income
