Raymond James recruits $138M Merrill Lynch team

MAR 09, 2017

A team that managed $138 million in client assets while at Merrill Lynch has left the wirehouse for Raymond James, the regional firm said. Patricia Bennett and two associates have joined the Louisville, Ky., office of Raymond James & Associates, according to a released statement. Ms. Bennett, Heather Poole and Kristen Swanson had annual fees and commissions of more than $1 million while at Merrill, Raymond James said. The trio operates as the Creekstone Financial Group. After spending 13 years with two major office products companies, Ms. Bennett began her financial services career in 2002 with Smith Barney in Louisville before moving to Merrill Lynch in 2007.

Latest News

Ameriprise, advisor on the hook to pay Edward Jones $4.7 million in trade secrets lawsuit.
Ameriprise, advisor on the hook to pay Edward Jones $4.7 million in trade secrets lawsuit.

In a constant fight over control of clients, the financial advice industry has a long history of such allegations and disputes.

Powering retirement for Wall Street
Powering retirement for Wall Street

Retirement fintech Vestwell has hit profitability and $200 million in annual recurring revenue, powering savings programs for 750,000 employers and Wall Street’s biggest firms

FINRA fines Vanguard $950,000 over decade of cost basis errors
FINRA fines Vanguard $950,000 over decade of cost basis errors

Faulty Forms 1099 and account statements reportedly left some Vanguard brokerage customers overpaying or underpaying taxes for over a decade.

More ETFs, more opportunity, more homework
More ETFs, more opportunity, more homework

The democratization of ETFs cuts both ways

Advisor moves: Raymond James, Baird add significant teams in latest recruiting push
Advisor moves: Raymond James, Baird add significant teams in latest recruiting push

Independent broker-dealers snap up experienced advisors as competition for established practices intensifies.

SPONSORED In the Age of AI, Trust Becomes the Advisor's Greatest Asset

As AI makes financial information more accessible than ever, Lana Hock explains why human judgment, trust, and empathy remain the qualities clients value most in a financial advisor

SPONSORED Direct indexing webinar targets tax-loss harvesting amid market swings

Northern Trust’s Ken Lassner shows advisors how to convert volatility into after-tax portfolio gains