Wells Fargo loses $230M team to Raymond James

Four-adviser team Cygnus Asset Management of Charlotte, N.C., is leaving Wells Fargo's Financial Network channel.
APR 13, 2017

Four advisers and their five-person staff in Charlotte, N.C., have switched affiliations from Wells Fargo Financial Network to Raymond James Financial Services. Cygnus Asset Management, which advises on $230 million in assets, is led by Lisa McIntire Shaw, Clif McIntire, Nathan Peterson and Jonathan Lindner, Raymond James said in a release. Ms. Shaw had been with Wells Fargo for seven years. She started her career in 1992 at PaineWebber and moved to Morgan Keegan & Co. in 2000, where she stayed for nine years. Mr. McIntire, a 54-year brokerage industry veteran, had been with several leading firms before moving to PaineWebber in 1988, where he began working with Ms. Shaw. They have continued to work as a team since then. Mr. Peterson began his career in 2004 at Morgan Keegan, and began working with Ms. Shaw and Mr. McIntire in 2009. Mr. Lindner became part of the team after he joined Wells Fargo Financial Advisors in 2014.

Latest News

WallStreetBets takes on the SEC — and makes a surprisingly sharp case
WallStreetBets takes on the SEC — and makes a surprisingly sharp case

The Reddit trading community's formal comment letter against the proposal is drawing widespread attention across finance and tech circles.

Stratos Wealth Holdings closes 11 acquisitions in push for advisory scale
Stratos Wealth Holdings closes 11 acquisitions in push for advisory scale

RIA aggregator adds $4.8 billion in client assets across seven states as demand grows for alternatives to traditional succession models.

Beyond wealth management: Why the future of advice is becoming more human
Beyond wealth management: Why the future of advice is becoming more human

As technical expertise becomes increasingly commoditized, advisors who can integrate strategy, relationships, and specialized expertise into a cohesive client experience will define the next era of wealth management

Shareholder sues FS KKR Capital board, alleges NAV and dividend cover-up
Shareholder sues FS KKR Capital board, alleges NAV and dividend cover-up

Shareholder targets FS KKR Capital's directors over alleged portfolio valuation and dividend missteps.

UBS loses $1.2 million arbitration claim linked to variable annuities and margin
UBS loses $1.2 million arbitration claim linked to variable annuities and margin

UBS has a history of costly litigation stemming from the sale of volatile investment products.

SPONSORED Beyond wealth management: Why the future of advice is becoming more human

As technical expertise becomes increasingly commoditized, advisors who can integrate strategy, relationships, and specialized expertise into a cohesive client experience will define the next era of wealth management

SPONSORED Durability over scale: What actually defines a great advisory firm

Growth may get the headlines, but in my experience, longevity is earned through structure, culture, and discipline