UBS loses $480 million team to Raymond James

A team of four advisers and their two assistants managing $480 million in Sarasota, Fla., has moved to the employee unit of Raymond James. Dean Dancer, T.J. Goelz, Steven Grossman and Joe Malave operate as the Palm Avenue Wealth Advisory Group. Mr. Dancer, a co-founder of the group, began his career in 1998 and worked at Smith Barney before joining UBS in 2009. Mr. Goelz, the group's other co-founder, began his financial services career in 1993 at Barnett Bank and in 1998 joined Smith Barney, where he began working with Mr. Dancer. Mr. Grossman began his financial services career in 1999 at Smith Barney, joined the other team members and moved with them to UBS in 2009. Mr. Malave began his career at Cigna in 1995, and worked at seven firms before he joined UBS in 2011.