Raymond James reels in $828M team from RBC

Raymond James has bolstered its employee advisor division with the addition of a veteran advisory team in Scottsdale, Arizona, managing more than $800 million in assets.

The group – made up of Brian Flader, Michael Flader, and Chris Young – joined Raymond James & Associates, the firm’s employee channel. The three advisors previously oversaw approximately $828 million in client assets while at RBC Capital Markets.

The team operates under the name Flader & Young Wealth Management of Raymond James and is based at the company’s Scottsdale branch. They serve a mix of business owners, families, individuals, retirees and those nearing retirement.

They are joined by senior client service associates Brittney Beard and Jamie Turner, who also made the move from RBC.

Brian Flader brings three decades of experience in the financial services industry, including the last 16 years with RBC and an earlier 13-year tenure with UBS; his brother, Michael Flader, has 27 years of experience. Both now serve as senior vice presidents of investments and portfolio management directors.

Young, who is also taking on a senior vice president role at RJA, has worked in the industry for 24 years.

Brian Flader, Michael Flader, and Young all had tenures at UBS before transitioning to RBC in 2008 according to their BrokerCheck profiles.

The move in Arizona is the latest in a string of additions to Raymond James' employee advisor arm, which earlier this week added a five-advisor breakaway team from Merrill in Alaska and another team from Morgan Stanley based in West Virginia.

In October, RJA scored another substantial win at RBC's expense with the addition of a $1.1 billion team in Las Vegas, Nevada.

At last count, Raymond James had 3,826 employee advisors within its Private Client Group, according to its fourth quarter earnings report for the fiscal year 2024, which ended in September.