More Morgan Stanley and Wells Fargo FAs Flock to This Rival
Raymond James has been on a tear in recent months, poaching financial advisors from rivals Morgan Stanley and Wells Fargo, luring several more representatives this week who collectively managed around $200 million.
In San Diego, Kenneth Judd and Robert Gonzales have joined Raymond James & Associates, the firm’s traditional employee broker-dealer, as Charted Course Wealth Management, according to a press release from Raymond James.
The pair previously oversaw $136 million at Wells Fargo Advisors, Raymond James says. They’re joined by registered client service associate Anne Gotingco, according to the press release.
“Rob and I looked at a number of firms, and Raymond James felt like home,” Judd says in the press release. “Raymond James invests in its advisors and provides the marketing and technology resources we need to serve our clients.”
Judd had been in the financial services industry since 1993 and joined Wells Fargo predecessor A.G. Edwards & Sons in 1996, according to his BrokerCheck profile.
Gonzales joined the industry in 1977 and also came to A.G. Edwards in 1996, according to BrokerCheck.
And in Los Angeles, RJA has poached Joseph Klauzar, who previously managed around $62 million at Morgan Stanley, according to the press release from Raymond James. Klauzer had joined the financial services industry in 1996 and came to Morgan Stanley in 2011, according to his BrokerCheck profile.
Raymond James has lured several advisors from Wells Fargo and Morgan Stanley over the past few weeks. Earlier this month, RJA picked up two Morgan Stanley advisors in West Palm Beach, Fla., who oversaw $190 million, and another team of representatives in Boca Raton, Fla., who managed $475 million.
Raymond James also recently poached a Morgan Stanley associate complex manager in West Palm Beach.
Wells Fargo, meanwhile, continues shedding advisors, some of whom have said they’ve lost business as a result of the ongoing scandals surrounding the firm’s sales practices.
Raymond James has been on the receiving end of many of those departures, most recently poaching a representative in Denver who oversaw more than $114 million at Wells Fargo.
A few days before that move, a team of financial advisors managing more than $500 million at Wells Fargo joined Steward Partners, the employee-owned independent partnership associated with Raymond James Financial Services.