Raymond James recruits adviser team with $220 million in assets from Wells Fargo

McCullough & Sparks Wealth Management, a team of financial advisers with $220 million of client assets, has joined Raymond James Financial Inc. from Wells Fargo & Co. Donald McCullough, John McCullough and William Sparks joined the brokerage firm's independent-employee group, opening a new office for the firm in Kenosha, Wis., according to a statement Thursday from the brokerage firm. They produced $1.7 million of annual revenue at Wells Fargo Advisors. (More: See all the latest moves in the InvestmentNews Advisers on the Move database) The team was seeking more control over how they run their practice and at the same time have “full employee benefits and complete administrative and back-office support,” Donald McCullough said in the statement. “We also wanted a firm which was client-focused and adviser-centric, not run by a bank.” The new Kenosha, Wis., office will be overseen by Gary Sievewright, the Wisconsin complex manager for Raymond James & Associates, the firm's employee broker-dealer unit.