Oppenheimer & Co. loses $420M broker, manager to Raymond James

Oppenheimer & Co. loses $420M broker, manager to Raymond James
Philadelphia-based Richard Grobman leaves with branch's administrative manager.
MAY 15, 2017
Richard Grobman, who managed $420 million in assets and managed the Philadelphia branch of Oppenheimer & Co., has joined the employee unit of Raymond James. Mr. Grobman, who joined an Oppenheimer predecessor firm W.H. Newbold's Son & Co. in 1985, supervised about 20 financial advisers and support staff. Joining him at Raymond James is Dawn DeAngelo, his former administrative manager. In their new role, the two will help support 10 advisers and six service associates at Raymond James.

Latest News

Maryland bars advisor over charging excessive fees to clients
Maryland bars advisor over charging excessive fees to clients

Blue Anchor Capital Management and Pickett also purchased “highly aggressive and volatile” securities, according to the order.

Wave of SEC appointments signals regulatory shift with implications for financial advisors
Wave of SEC appointments signals regulatory shift with implications for financial advisors

Reshuffle provides strong indication of where the regulator's priorities now lie.

US insurers want to take a larger slice of the retirement market through the RIA channel
US insurers want to take a larger slice of the retirement market through the RIA channel

Goldman Sachs Asset Management report reveals sharpened focus on annuities.

Why DA Davidson's wealth vice chairman still follows his dad's investment advice
Why DA Davidson's wealth vice chairman still follows his dad's investment advice

Ahead of Father's Day, InvestmentNews speaks with Andrew Crowell.

401(k) participants seek advice, but few turn to financial advisors
401(k) participants seek advice, but few turn to financial advisors

Cerulli research finds nearly two-thirds of active retirement plan participants are unadvised, opening a potential engagement opportunity.

SPONSORED RILAs bring stability, growth during volatile markets

Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today’s choppy market waters, says Myles Lambert, Brighthouse Financial.

SPONSORED Beyond the dashboard: Making wealth tech human

How intelliflo aims to solve advisors' top tech headaches—without sacrificing the personal touch clients crave