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.
Elsewhere, Wells Fargo Advisors adds a $400 million Morgan Stanley veteran in Naples as an ex-Cetera advisor goes independent with LPL
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A $1B fund allegedly skimmed 30% off the top, then swapped cash for locked-up stock.
Insiders allegedly rewrote projections three times in four days.
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