Raymond James is deepening its presence in the Northeast as it signs a powerhouse advisor team from Commonwealth Financial Network.
The firm announced that Raymond James Financial Services, its independent advisor arm, has welcomed a team of five financial advisors and three client service professionals from Lightship Wealth Strategies in Newton Lower Falls, Massachusetts.
An independent advisory group managing around $800 million in assets, the team is led by Jonathan Wolff, Scott Schutte, Justin Turcotte, Jack Wolff, and Evan Mattern, who are supported by three client service professionals.
Collectively, the advisors have over a century of experience in the financial services sector.
“After extensive due diligence, we decided to partner with Raymond James for its comprehensive resources and, most importantly, the level of trust that comes from our deep alignment of values,” Wolff, the founder of Lightship, said in a statement.
Wolff’s career in financial services stretches back more than four decades to 1983, including the last 18 years spent at Commonwealth. Before that, he spent 23 years with Northwestern Mutual Investment Services.
He cited “the culture at Raymond James” focused on “[delivering] high-quality service to clients with a long-term view,” as well as its “leading-edge technology, its banking and lending capabilities and wide range of high-net-worth options,” as driving factors in their decision to join
“With the firm's flexible platform, advanced technology and support, I’m confident that we will continue to deliver high-quality financial guidance and strategies to our sophisticated clients while continuously striving to elevate their experience,” Schutte said.
Raymond James is welcoming Lightship on the heels of its onboarding a husband-and-wife advisor team in Oklahoma and a former Merrill Lynch advisor in Tampa, Florida.
Rajesh Markan earlier this year pleaded guilty to one count of criminal fraud related to his sale of fake investments to 10 clients totaling $2.9 million.
From building trust to steering through emotions and responding to client challenges, new advisors need human skills to shape the future of the advice industry.
"The outcome is correct, but it's disappointing that FINRA had ample opportunity to investigate the merits of clients' allegations in these claims, including the testimony in the three investor arbitrations with hearings," Jeff Erez, a plaintiff's attorney representing a large portion of the Stifel clients, said.
Chair also praised the passage of stablecoin legislation this week.
Maridea Wealth Management's deal in Chicago, Illinois is its first after securing a strategic investment in April.
Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.
Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.
