Wells Fargo Advisors has lost three reps collectively managing $230 million to Steward Partners Global Advisory, the employee-owned independent partnership associated with Raymond James Financial Services, Steward Partners says in a press release.
Sarah Marks joins Steward Partners’ Washington office, the company says. She has been in the industry since 2000 and with Wells Fargo since 2007, according to her BrokerCheck profile.
Andrew Egber and Miguel Lopez, meanwhile, who operate as the Egber-Lopez Investment Group, join Steward Partners’ Bethesda, Md., office, according to the press release. Egber has been in the industry since 1989 and with Wells Fargo since 2009, according to his BrokerCheck profile. Lopez has been in the industry since 1994 and with Wells Fargo since 2009, according to BrokerCheck.
All three advisors say in the press release that they were set on going independent. In choosing Steward Partners, Marks says she was attracted to the combination of “the traditional capabilities of a wealth management firm and the investment advisory capabilities of an RIA.”
Egber and Lopez were attracted to Steward Partners and Raymond James because they “offered us everything we needed to provide our clients with concierge-level service while allowing us the freedom to entertain business growth ideas suitable for our practice,” Egber says in the press release.
The recent recruits are the first additions of 2018 for Steward Partners, the company says. But the firm, along with Raymond James, kept up an aggressive pace of recruiting in 2017. Just in the last couple of months, Steward Partners picked up a complex manager from Morgan Stanley and four more advisors from Wells Fargo, while Raymond James has nabbed advisors from Merrill Lynch and Morgan Stanley.
Steward Partners plans to open up to four new offices during the year, after opening four in 2017, according to the press release.