Several wirehouse advisors managing $386 million have jumped ship to Raymond James and Steward Partners.
In Doylestown, Pa., Matthew Pruitt, a 20-year veteran of the financial services industry, and Matthew Fisher, who’s been in the industry for 15 years, have joined Raymond James & Associates, the firm’s employee advisor broker-dealer, as Patriot Wealth Management of Raymond James, the company says in a press release.
The pair previously managed around $252 million at Morgan Stanley, Raymond James says. They’re joined by senior financial planning consultant Louise Clauso and senior registered service associate Dale Hoernlein, according to the press release.
"The client-centric view at Raymond James is incredibly unique,” Pruitt says in the press release. “We built our practice around helping people who serve others first, which aligns perfectly with the client-first culture. The firm’s value of integrity and the strong support and autonomy that is offered by Raymond James as our partner were significant factors in our decision.”
In addition, the Dooley Group, made up of Gene Dooley, Wes DeVoe and Taryn Bertetto, has joined Steward Partners Global Advisory, the employee-owned independent partnership associated with Raymond James Financial Services, Steward Partners says in a press release. The team, which previously managed $134 million at Merrill Lynch, joins Steward Partners’ new office in Austin, Texas, which is the company’s third in the state, according to the press release.
“Deciding to move is never an easy decision, but after learning about Steward Partners, their fast growth, and most importantly the value we would be able to add to our clients by aligning with them, the choice became clear,” Dooley, who had been with Merrill Lynch for seven out of his 10 years in the industry, says in the press release.
Furthermore, Raymond James has named Renee Baker head of the firm’s newly consolidated Advisor Inclusion Networks, effective Sept. 1, according to a separate press release.
Baker, currently chief marketing officer at subsidiary Carillon Tower Advisers, will oversee Raymond James’ Network for Women Advisors, Advisor Pride Network and Black Financial Advisors Network, the company says. Michelle Lynch, who headed the Network for Women Advisors, has moved to RJA’s eastern division as sales manager, according to the press release.
“Centralizing leadership and resources supporting the networks will better leverage our progress to date and facilitate continuing to improve diversity and inclusiveness across the firm,” Scott Curtis, president of the firm’s private client group, says in the press release.