Mike Gapinski, Thom Huggins and David Thompson have joined Raymond James & Associates, the company’s advisor broker-dealer, in Houston as Gapinski Huggins Group of Raymond James, according to a press release from the firm.
The team, which also includes business manager Nicole Boniface and senior registered sales associate Natanie Keller, previously managed $347 million, Raymond James says.
“As long as we’ve been in the business, we’ve recognized the unparalleled company culture and the family environment at Raymond James,” Huggins says in the press release. “The culture here at Raymond James is incredibly refreshing and unique. For us, the client comes first, so we are excited that the firm honors and respects those advisor-client relationships as we can best serve our clients this way.”
Gapinski has been in the financial services industry for 24 years and Huggins for 18, according to the press release. Thompson began his industry career in 2012, according to his BrokerCheck profile.
Earlier this month, Raymond James lured a Morgan Stanley broker in Florida who was managing close to $106 million, and last month it added a 33-year Morgan Stanley veteran of the wirehouse in Houston.
The wirehouse isn’t the only firm losing brokers to Raymond James.
In Des Moines, Iowa, RJA has added Kevin Bannister, Mark Raney, Nevin Cavanaugh and Hobie Bannister as the Bannister, Raney, Cavanaugh Wealth Group of Raymond James, according to a separate press release from the company.
The team, which also includes senior registered client service associate Aimee Holmes, previously managed $240 million at RBC Wealth Management, Raymond James says. Cavanaugh has been in the industry for 20 years, Kevin Bannister for 24, Raney for 28 and Hobie Bannister for 45, according to the press release.
“After my time in the industry, I have witnessed many different cultures but Raymond James felt the most comfortable to our team,” Hobie Bannister says in the press release.
Raymond James added 42 advisors in the three months ending in June and another 107 in the quarter ending in September, bringing its advisor ranks to 8,011. This month, Raymond James added a team overseeing $775 million at Wells Fargo, a father-daughter team of advisors managing $206 million at Merrill Lynch and a UBS team managing close to a billion dollars.