Wells Fargo Loses Yet More FAs to These Firms
Judy Ross joins Raymond James Financial Services, the firm’s independent broker-dealer, as J. Thompson Ross Investments, the company says. She previously oversaw $245 million at Wells Fargo Financial Network, where she’d been since 2010, according to the press release.
Ross’s team, which includes senior registered associate and director of portfolio management Daren Sexton, director of client services Patricia Hayton and client service associate Lauren Richert, serves individuals, families, business owners, executives and sudden wealth clients, Raymond James says.
“Raymond James’ planning tools and technology capabilities are impressive, and reinforce the firm’s commitment to its wealth management business,” Ross says in the press release. “They develop resources designed to support and strengthen our relationship with our clients, and offer us the flexibility and freedom to run our business.
Wells Fargo has lost more than 1,000 advisors since the 2016 revelations that employees in the company’s retail banking unit opened millions of bogus accounts. Many of those representatives jumped ship to Raymond James.
Additionally, a firm previously affiliated with Wells Fargo has moved to a Ladenburg Thalmann subsidiary. Stonebridge Financial Group, which oversees around $850 million, has joined the hybrid-focused independent broker-dealer Triad Advisors, according to a press release from Atlanta-based Triad.
The Wormleysburg, Pa.-based advice firm is led by Brian McCarver and Jonathan Freeman, both of whom were registered with Wells Fargo Advisors Financial Network, and Jim Kampstra, who was previously registered with Geneos Wealth Management, according to BrokerCheck.
Stonebridge had recently merged with Ferrara Kampstra Wealth Management, according to Triad’s press release.
“We joined Triad Hybrid Solutions because our industry and our business are evolving toward greater independence, in line with the needs of our clients,” McCarver says in the press release. “Triad has a proven track record of valuing and successfully fostering greater independence in the advisory practices it supports.”