Team with $800M in assets leaves Wells Fargo FiNet for Raymond James

A four-adviser team in Sanford, N.C., managing $800 million has switched affiliations from Wells Fargo FiNet to the independent channel of Raymond James. Operating as the Normann Financial Group (NFG), the eight-person team held about $750 million in client assets at Wells Fargo and $50 million outside the firm. Kel Normann created NFG while with Wells Fargo FiNet after managing his team as a profit formula practice since 2001 with Wachovia Securities. Prior to that, he spent 15 years as an advisor with Wells Fargo Advisors and its predecessor firms, dating back to Interstate Securities. In total, he spent more than 31 years with Wells Fargo. Eric T. Vernon joined Mr. Normann's group while at Interstate Johnson Lane in 1997. Murphy Paderick joined Mr. Normann's practice in 2015, after working at MFS Investment Management and later CAPTRUST Financial Advisors. Miller Robins joined NFG in 2016. Earlier, he worked at CAPTRUST Financial Advisors.