Raymond James Poaches $300 Million FA Team from UBS
Financial advisors Lori Siegel, a 22-year veteran of the financial services industry, and Robert Russo, who’s been in the industry for 14 years, join the Houston office of Raymond James Financial Services, the company’s independent broker-dealer, as Centrix Wealth Partners, according to a press release from Raymond James.
The pair are joined by senior client service associates Cher Rudolphi and Shelli Cummings, and client service associate Chris Mack, the company says. The team previously managed $300 million at UBS, according to the press release.
“We knew the best next step for our team was to become an independent practice. It was a matter of finding the right firm, and Raymond James was the premier fit for us, and most important, our clients,” Siegel says in the press release. “The culture of the company is that clients always come first. In addition, Raymond James is advisor-centric, with in-depth resources and sophisticated technology available to all affiliated advisors. The firm’s culture, combined with the breadth of support, are what attracted us to the firm.”
During the first three months of 2019, Raymond James added 47 advisors, a 0.6% increase over the quarter prior and a 3.4% increase over the same quarter the previous year, as reported.
But in the same month, Raymond James nabbed advisors from Merrill Lynch and SunTrust Investment Services who collectively managed around $377 million, and a trio of advisors who oversaw $240 million at Wells Fargo.