Raymond James said a team of four advisors managing $680 million in client assets is joining its independent advisor channel, Raymond James Financial Services, from UBS Financial Services.
Cynthiea Locala, Robert Krenz, Mark Ruby and Dominic Ruby operate as Momentum Wealth Partners in Akron, Ohio. They were joined in the move to Raymond James by three staffers.
“From an operational standpoint, Raymond James has an impressive track record of transitioning advisors to an independent model where we can structure our business and work with our clients as we see fit,” Locala said in a statement.
Locala founded Oakwood Financial Group, a predecessor to Momentum Wealth Partners, in 1988. According to her BrokerCheck report, she’d been affiliated with UBS since 2012, and worked at Merrill Lynch from 2003 to 2012.
Krenz has 33 years of experience, according to BrokerCheck; he joined UBS in 2007 after working at McDonald Investments for eight years. Mark Ruby started at Merrill Lynch in 2006 and joined UBS in 2012, while Dominic Ruby joined Merrill in 2010 before moving to UBS in 2012.
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