Advisers managing $220 million in assets join Raymond James from UBS

Financial advisers managing $220 million in client assets joined Raymond James from UBS Financial Services.

Harold ‘Mac’ MacFarland and Tadd Hicks earned in excess of $1.6 million in annual fees and commission, according to the statement released Tuesday. Raymond James will launch MacFarland Hicks Financial Group, where the pair will be joined by Margaret Noel, a senior client associate. The firm is based in St. Louis, Missouri.

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“In addition to providing comprehensive financial planning services, Tadd and I also help manage our clients’ portfolios and have discretion for investments for most of our clients, so we were particularly attracted to Raymond James’ highly regarded equity research as well as the banking services: including securities based lending,” said Mr. MacFarland in a statement. “But mostly, we are happy the firm is a U.S. based business focused on private clients and not a bank or insurance company with other priorities.”

According to the statement, Mr. MacFarland was a U.S. Air Force veteran, who began his advisory career in 1987 with Thomson McKinnon Securities. Two and a half years later, McKinnon Securities merged into Prudential Securities where he worked until 1994. Mr. MacFarland later moved to Paine Webber which then merged into UBS Financial where he worked for 22 years. There are no disputes listed on his BrokerCheck profile.

Mr. Hicks began his advisory career with Paine Webber in 1992, which later merged into UBS Financial, where he stayed for 24 years. There are no disputes listed on his BrokerCheck profile.

Raymond James has approximately 6,900 financial advisers managing $556 billion in client assets, according to the statement.