Raymond James attracts $300 million team from LPL Financial

Raymond James attracts $300 million team from LPL Financial
The Michigan-based advisers were affiliated with LPL for more than 15 years.
OCT 31, 2016
By  Bloomberg
A team of advisers managing $300 million in client assets left LPL Financial last week to join Raymond James Financial Services Inc. Chad Keim, Vince Little, and Brian Oswald, advisers at Oakleaf Financial Services, the investment arm of Sturgis Bank & Trust Co., based in Sturgis, Mich., were affiliated with LPL Financial for more than 15 years. “These advisers put their clients' best interest first and that's also how Raymond James operates,” Carolyn Gaynoe, business development specialist for the financial institutions division at Raymond James, said in an interview Thursday. “Their vision aligns very well with ours.” “We are excited to align with Raymond James, and for the ability to offer our clients and community premier access to the best service in the industry,” Mr. Keim, president of Oakleaf, said in a statement. LPL Financial was not immediately available to comment. Updates earlier version of the story to fix quote and spelling of Carolyn Gaynoe's name.

Latest News

Why financial honesty is key to harmonious relationships
Why financial honesty is key to harmonious relationships

Nearly half of single Americans think their net worth shapes their fate in dating, but the biggest financial green flags tell a different story.

Osaic hit with class action over cash sweep payments
Osaic hit with class action over cash sweep payments

The hybrid RIA is the latest firm to face allegations that it enriched itself at customers' expense by paying unfairly low interest rates in its cash sweep programs.

LPL's Rich Steinmeier turns the page on CEO firing with eye on firm's growth
LPL's Rich Steinmeier turns the page on CEO firing with eye on firm's growth

Installed after Dan Arnold's abrupt termination, the new leader at LPL Financial is highlighting the firm's refocusing on the individual advisor.

Pershing discussing move to control portion of broker-dealers’ cash.
Pershing discussing move to control portion of broker-dealers’ cash.

The clearing and custody giant is kicking the tires on new cash sweep plan with broker-dealer clients.

LPL, Raymond James boost advisor ranks anew
LPL, Raymond James boost advisor ranks anew

LPL Financial welcomes a $345 million investment and planning team from Ameriprise as RayJay's employee advisor arm adds a seasoned Well Fargo breakaway.

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.