Raymond James continues to execute on its advisor-recruiting strategy, announcing two new seasoned wealth professionals joining its ranks in the past week, with talent acquisitions for both its independent and employee-advisor channels.
In Bluffton, South Carolina, the firm welcomed a veteran advisor managing approximately $247 million in client assets into Raymond James Financial Services, its independent advisor channel. The hire adds depth to the firm’s Southeast footprint and underscores its continued appeal to established practices seeking platform support and growth resources.
The advisor, whose practice serves a mix of high-net-worth families, business owners and retirees, cited the firm’s holistic support as a key factor in the move. “I chose Raymond James because of its commitment to supporting advisors and their clients,” he said. “The firm’s resources make this the right environment for the next chapter of my practice.”
Meanwhile in Frisco, Texas, Raymond James welcomed Michael Thomason to its employee-advisor channel, Raymond James & Associates, after a 14-year run at Merrill Lynch where he managed in excess of $100 million in client assets. Alongside Thomason is senior registered client service associate Donna Chepenik, as they transition their practice — Thomason Wealth Management of Raymond James — to the firm’s platform.
Thomason works with a broad client base that includes corporate executives and individual investors, and in discussing his decision to affiliate with Raymond James, he said the firm’s culture and leadership reputation were decisive. “Its client-oriented culture, along with the leadership team’s strong reputation for delivering on its promises, ultimately led me to choose Raymond James,” he said. “The firm’s commitment to supporting advisors and their clients makes this the right environment for the next chapter of my practice.”
Raymond James recently announced a major acquisition to bolster and expand its wealth management offering including model portfolios and advisor-focused solutions.
The firm is set to acquire Clark Capital Management Group, a Philadelphia-based investment firm known for advisor-centric wealth solutions and strong organic growth, bringing more than $46 billion in discretionary and non-discretionary assets under management into Raymond James Investment Management’s multi-boutique platform.
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Also, Raymond James's employee advisor channel adds breakaways from Wells Fargo and Stifel, while UBS welcomes an ex-Morgan Stanley duo in Indiana.
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