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Wells Fargo and Edward Jones Lose FAs to Key Competitor, and More...

By Alex Padalka February 4, 2019

Raymond James has poached advisors from Wells Fargo and Edward Jones in California, Raymond James says.

Michele Ing joins the King City, Calif., office of Raymond James Financial Services, the firm’s independent broker-dealer, according to a press release from the company.

She previously oversaw $120 million at Edward Jones, where she’d been for 14 out of the 30 years she’s been in the industry, Raymond James says. Her practice, which also includes Alicia Trujillo, office manager, and Christopher Cogar, client services manager, focuses on families, retirees and women investors, according to the publication.

“Becoming an independent practice and partnering with Raymond James is a great move for my clients and their needs,” Ing says in the press release. “I witnessed firsthand the inclusive culture and access to leadership during the firm’s Women’s Symposium and again at my home office visit to St. Petersburg during my due diligence process.”

In addition, Thad Ortez joins RJFS in Modesto, Calif., the company says. He previously oversaw around $100 million at Wells Fargo Advisors, according to the press release. Ortez, who’s been in the financial services industry for two decades, caters to individual investors and retirees and has a niche clientele among local almond farmers and growers, Raymond James says.

“When looking at firms, having more control and ownership of my practice and the client experience was important to me,” Ortez says in the press release. “Raymond James is a firm that has a reputation of putting clients first. That, coupled with the flexibility they give me to run my practice the way I know is best for my clients, makes me confident that this was the right move for me, and especially my clients.”

Raymond James and its affiliated companies Alex.Brown and Steward Partners Global Advisory have started the year strong, nabbing advisors from AB Bernstein and another team from Wells Fargo.

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UBS Loses Experienced Rep to First Republic

First Republic Bank has snatched a veteran advisor from UBS Financial Services, according to First Republic.

Greg Zappas joins First Republic’s office in Newport Beach, Calif., according to a press release from the firm.

He has been in the wealth management industry for 23 years and was a senior vice president at UBS serving individuals, families, entrepreneurs and corporate executives, First Republic says.

In his new role as managing director and wealth manager, Zappas will serve individuals and families as well as businesses, nonprofits and foundations, according to the press release.

First Republic has attracted several experienced advisors from wirehouses in recent months. Earlier this year, the company picked up a team of advisors in San Diego from Wells Fargo.

Last year, First Republic also poached several advisors from Merrill Lynch, as well as more advisors from Wells Fargo and UBS.

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Citi Loses Experienced Financial Planner to Small N.Y. Practice

An experienced financial advisor has left Citi’s personal wealth management group for a small firm in St. James, N.Y., according to news reports.

Jonathan Leis, who has 16 years of financial planning experience, has joined Main Street Financial Group, Patch.com writes.

Main Street provides investment advice services through Kestra Advisory Services, according to Main Street’s website.

Leis began his financial services career at Citicorp Investment Services in 2002 and had stints at Chase Investment Services and HSBC Securities before coming to Citigroup Global Markets in 2013, according to his BrokerCheck profile.