Merrill Lynch loses two teams managing $500 million to Raymond James

Separate four-person and two-person groups join employee unit in Tucson, Ariz.
JUL 27, 2017

Two separate broker teams collectively managing $500 million at Merrill Lynch in Tucson, Ariz., have joined the employee unit of Raymond James. Gail Giclas, who managed $377 million in assets at Merrill Lynch, made the move with her son, branch intern Eli Glicas, as well as client associate Neva Thomason, who had worked for Merrill Lynch for almost 30 years, and former summer intern Haley Culpepper. Stephen Neff, who also changed firms, managed more than $200 million in assets at Merrill Lynch with associate Kim Ohler. He began his career at Merrill Lynch in 1977. Ms. Giclas began her financial services career in 1983 with Boettcher & Company in Tucson. In 1992, she joined Shearson Lehman Brothers, which later became Smith Barney. In 2008, she joined Merrill Lynch.

Latest News

FiNet, Raymond James land California and Washington advisor teams
FiNet, Raymond James land California and Washington advisor teams

Three advisor groups overseeing more than $700M in combined client assets head to new firms.

Retirement crisis fears hit record high as debt and inflation squeeze Americans
Retirement crisis fears hit record high as debt and inflation squeeze Americans

New research finds most Americans fear a US retirement crisis, while skepticism grows toward AI financial advice and crypto in retirement plans.

Easy to buy, harder to exit: The liquidity risk hidden inside ETFs
Easy to buy, harder to exit: The liquidity risk hidden inside ETFs

Getting a client into a fund has never been easier – but after that, the hardest part is yet to come.

FINRA bars NYLIFE rep who used smart glasses to cheat on Series 6
FINRA bars NYLIFE rep who used smart glasses to cheat on Series 6

A former NYLIFE Securities rep was permanently barred after using internet-enabled glasses to cheat on the Series 6 exam

Vanguard settled Just Invest lawsuit weeks before Altruist deal
Vanguard settled Just Invest lawsuit weeks before Altruist deal

Both of Vanguard's acquisitions have targeted the RIA industry, but the first ended in a legal settlement just weeks before buying Altruist.

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