FBT Investments loses $240 million team to Raymond James

Four reps at First Bank & Trust's securities unit in New Orleans join employee broker-dealer.
SEP 18, 2017
By  Bloomberg

A four-rep team managing $240 million in assets at FBT Investments in New Orleans has joined the employee unit of Raymond James. The four team members — Leonard Alsfeld, Leo Barros, Chris McLaughlin and Jannie Markey — will operate as AGESS Wealth Advisors of Raymond James. The name AGESS stands for accountability, guidance, ethics, stability and service. (More: Raymond James adds Chicago advisers from Baird, JP Morgan) Mr. Alsfeld began his financial services career in 1978 with First Jersey Securities in Boston. Since then, he has held management positions with several financial services and founded various businesses, including FBT Investments, the broker-dealer subsidiary of First Bank & Trust in New Orleans. He was president and CEO of FBT Investments and FBT Advisors. In 2004, Mr. Alsfeld created FBT Film & Entertainment, the largest production tax credit broker in Louisiana, handling credits in excess of $240 million. He founded the Louisiana Association of Broker-Dealers and is a member of the Securities Industry Association and the Bank Insurance and Securities Association. Mr. Barros joined the team at FBT Investments in 2010 after working as a research analyst with Wealth Planners in Baton Rouge, La. Mr. McLaughlin began his career in 1993 with F.N. Wolf & Co. where he met Mr. Alsfeld. The two have worked together since. (More: See all the latest moves in the Advisers on the Move database) Ms. Markey, who has worked with Mr. Alsfeld for more than 20 years, served as chief administrative officer and director of operations at FBT Investments and FBT Advisors. Joining the team later will be attorney Meg Kaul, who previously served as general counsel at FBT Investments.

Latest News

SEC prepares to back away from defending climate rule in court
SEC prepares to back away from defending climate rule in court

Acting Chairman Mark Uyeda directed SEC staff to initiate a pause in court while the commission awaits a quorum. The SEC may decide to withdraw from defending itself in a lawsuit over last year's climate disclosure rule.

wealth.com welcomes Kathy Wunderli in private wealth push
wealth.com welcomes Kathy Wunderli in private wealth push

The top estate planning platform's veteran hire will lead its legal team's efforts to develop estate planning, tax analysis, and wealth transfer solutions for ultra-high-net-worth clients.

Morgan Stanley loses $843,000 investor claim stemming from 'gold bar' scam
Morgan Stanley loses $843,000 investor claim stemming from 'gold bar' scam

“If Morgan Stanley had called my client’s son, this wouldn’t have happened,” the investor's attorney said.

LPL welcomes $630M sibling advisor duo from Corebridge
LPL welcomes $630M sibling advisor duo from Corebridge

Meanwhile, Ameriprise has bolstered its own ranks as an LPL defector joins its branch channel in California.

Treasuries fall as Powell reaffirms rate-cut patience
Treasuries fall as Powell reaffirms rate-cut patience

The Fed chair's continued signals to delay policy easing sent 10-year yields higher, with money markets pricing in just one quarter-point cut this year.

SPONSORED Taylor Matthews on what's behind Farther's rapid growth

From 'no clients' to reshaping wealth management, Farther blends tech and trust to deliver family-office experience at scale.

SPONSORED Why wealth advisors should care about the future of federal tax policy

Blue Vault features expert strategies to harness for maximum client advantage.