The father-daughter team of James Alioto and Florence Alioto-Prospero has joined Raymond James & Associates, the firm’s employee advisor broker-dealer, as Alioto Wealth Management Group of Raymond James in Waukesha, Wis., the company says in a press release.
The team, which also includes senior registered client service associate Darlene McGregor, previously managed $325 million at Wells Fargo, according to Raymond James.
Alioto began his financial services career in 1976 and joined Wells Fargo in 1990, according to his BrokerCheck profile.
Alioto-Prospero began her industry career at Morgan Stanley in 2002 and joined Wells Fargo in 2005, according to BrokerCheck.
Earlier this month, Wells Fargo lost an advisor in Chicago to RJA and in October it lost a $775 million practice to RJA.
Meanwhile, Wells Fargo has named a long-serving executive at the firm to the position of chief investment officer of Wells Fargo Private Wealth Management, the company says.
In his new role, Adam Taback will oversee the investment platforms of Wells Fargo Private Bank and Abbot Downing, including trading, portfolio management, investment policy and oversight, according to a press release from Wells Fargo.
Wells Fargo Private Bank and Abbot Downing collectively oversaw $155 billion as of the end of September, according to the press release.
Taback has been with Wells Fargo for 23 years, most recently serving as head of global alternative investment strategy for Wells Fargo Investment Institute and deputy chief investment officer for Wells Fargo Private Bank, the company says.
In a separate press release, Wells Fargo also announced that general counsel C. Allen Parker is leaving the company effective March 31 “to pursue other business opportunities.”
Parker joined Wells Fargo in 2017 and took over as its interim CEO in March this year following the departure of Tim Sloan amid government investigations into sales practices at the firm, prompted by 2016 revelations that thousands of Wells Fargo retail bank employees opened millions of bogus accounts without clients’ knowledge.