Four-rep team from RBC managing $240 million moves to Raymond James

Bannister, Rainey Cavanaugh Wealth Group is based in West Des Moines, Iowa.
OCT 30, 2019
Kevin Bannister, Mark Raney, Nevin Cavanaugh, and Hobie Bannister, who managed $240 million at RBC Wealth Management, have moved to the employee unit of Raymond James. [More: See more adviser moves in InvestmentNews' Advisers on the Move database.] They will join an existing Raymond James office in West Des Moines, Iowa. Mr. Cavanaugh has been a financial professional for 20 years. He began his career with Merrill Lynch and later moved to UBS. Kevin Bannister has been in the industry for 23 years, Hobie Bannister for 45 years. Mr. Raney has been in financial services for 28 years, working at UBS before joining RBC Wealth Management. Our final Women Adviser Summit of 2019 will be held in New York City. Register now.

Latest News

Fintech bytes: Envestnet reaffirms $1B RIA commitment with Tamarac tech investment
Fintech bytes: Envestnet reaffirms $1B RIA commitment with Tamarac tech investment

Also, Orion has added BlackRock, Fidelity, and Vanguard to its custom portfolios suite, and RedBlack has set up a new headquarters after crossing a trillion-dollar milestone.

RIA moves: Maridea acquires multigenerational practice in Pennsylvania debut
RIA moves: Maridea acquires multigenerational practice in Pennsylvania debut

Also, New York-based Legacy Edge Advisors names its first-ever CEO, while Novare Capital Management hires a Vanguard veteran with a multigenerational planning focus.

Private equity eyes 401(k) plans, but fees remain a hurdle
Private equity eyes 401(k) plans, but fees remain a hurdle

Asset managers are racing to bring private market products to retirement plans, but cost and liquidity concerns linger.

IRS floats proposal ending tax breaks for schools that weigh race
IRS floats proposal ending tax breaks for schools that weigh race

Treasury's latest tax-exemption crackdown on private schools lands in the wake of a separate push to restrict refundable credits for some immigrant filers.

Trust over tech:  The hidden signal of stock success in the AI era
Trust over tech: The hidden signal of stock success in the AI era

Workforce trust measures predicted which companies came out ahead during COVID-19. The same dynamic may now be playing out across the AI transition — and the data suggests the spread could be just as wide.

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

SPONSORED Who builds the income when the pension disappears?

Dan Biagini of American Equity says the steady decline of pensions, longer lifespans and a reset in interest rates are rewriting how advisors build retirement income