FBT Investments loses $240 million team to Raymond James

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.