Raymond James grabs four-man team from Wells Fargo

Raymond James grabs four-man team from Wells Fargo
The team had $288 million in client assets and generated $1.7 million in fees and commissions annually.
DEC 28, 2016
Raymond James & Associates Inc. this month grabbed a team of four former reps for Wells Fargo Advisors who managed $288 million in client assets. John Solomon, Phil Greer, Bill Dukelow and Hamilton Neal joined Raymond James this month and will operate as Solomon, Greer, Dukelow & Neal Wealth Management in the Ponte Vedra Beach, Fla. branch of Raymond James & Associates, the firm's traditional employee broker-dealer arm. (See: Advisers on the Move ) Mr. Solomon, Mr. Greer and Mr. Dukelow had worked at Wells Fargo since 2003, according to their BrokerCheck profiles. Mr. Neal had worked at Wells Fargo since 2010, according to BrokerCheck. “The most important factor in our decision to move was to work for a firm where the focus was first and foremost on serving clients' needs and one whose revenue came primarily from its Private Client Group,” Mr. Greer said in a statement. “The adviser-centric, service-first culture here at Raymond James, along with superior technology, is going to allow us to forge even stronger relationships with our clients going forward.” The team annually generated $1.7 million in fees and commissions while at Wells Fargo, according to the statement. (More: FiNet snags two Morgan Stanley advisers with $243 million in client assets ) A spokeswoman for Wells Fargo, Elise Wilkinson, did not immediately return a call on Wednesday afternoon to comment.

Latest News

Trump account confusion is widespread among parents — and advisors have an opening
Trump account confusion is widespread among parents — and advisors have an opening

Only 7% of U.S. parents are "very confident" they understand how the Trump accounts work, says Omni Calculator

Receiver sues to recover alleged Traders Domain Ponzi profits
Receiver sues to recover alleged Traders Domain Ponzi profits

One transfer alone came to $5.6m, and the receiver says none of it was real profit.

SEC accuses S2A Modular founders of alleged $65 million investor fraud
SEC accuses S2A Modular founders of alleged $65 million investor fraud

Investors chose which factory to fund - the SEC says the money went elsewhere.

Ameriprise gets narrow relief from FINRA panel in latest recruiting dispute with LPL
Ameriprise gets narrow relief from FINRA panel in latest recruiting dispute with LPL

Ameriprise and LPL Financial for the past few years have engaged in a financial advice trade war.

Am I stuck? Rethinking career mobility at every stage
Am I stuck? Rethinking career mobility at every stage

Why advisors at every stage may have more leverage, flexibility, and strategic options than they realize.

SPONSORED Direct indexing webinar targets tax-loss harvesting amid market swings

Northern Trust’s Ken Lassner shows advisors how to convert volatility into after-tax portfolio gains

SPONSORED Who builds the income when the pension disappears?

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