RIABiz

News, Vision & Voice for the Advisory Community

RIABiz

The story behind how Raymond James won two big teams from LPL and Wells Fargo in the past couple of weeks

When the mid-sized Florida broker-custodian takes on bigger giants, it plays the little-guy card

Author Lisa Shidler January 7, 2014 at 8:47 PM
1 Comment
no description available
Raymond James recruited Becky Wiles, Terry Wiles, Heather Monzote, Ryan Smith and two hound puppies, Maia and Sky, in December.

Breakaway Stories


John

John

January 8, 2014 — 4:01 PM

It does not seem to me that advisors are going independent when they leave one regional and join another. They are still exposed to conflicts of interest with regard to product. If these advisors are heavily fee based to move to a truly independent custodian (Schwab, Fidelity, TD or Pershing) and affiliate with a friendly BD reduces conflict and reduces cost dramatically. These reductions can be passed onto the client or kept by the advisor which at the end of the day is the value of “true” independence.


Related Moves

April 2, 2024 at 1:28 AM

UBS bets its 'wealth' future on ex-Schwabbie Naureen Hassan, a corporate digital A-lister, who analysts give a fighting chance to transcend PaineWebber's ossified culture

Still a $2-billion cash-flow cow, the Swiss bank's 6,000-broker, US-based wirehouse is milking aging broker relationships with aging investors but needs a new kind of human presence, empathy, mindset and smarts to draw in Gen Z.

July 16, 2022 at 1:35 AM

How a white senior vice president at an LPL OSJ came to hire a former black minister as recruiter despite the latter's pledge to make it 'uncomfortable' at times

Rob Sandrew hit it off with Keith L. Frasier, willing to speak up on racial and racial justice issues, who also checks all the boxes for attracting talent and assets at a firm that recruited $2 billion last year

August 19, 2020 at 2:18 AM

After recruitment of minorities and women gets CEO-level attention at Raymond James, a program gets a dynamic leader

With ratios stuck in the teens, CEO Paul Reilly gives chief marketing officer at subsidiary Carillon Tower Advisers, Renee Baker, her shot at mission impossible -- getting Advisor Inclusion Networks to live up to its Orwellian name

August 24, 2019 at 4:25 AM

See more related moves

Mentioned in this article:

LPL Financial
RIA-Friendly Broker-Dealer, RIA Welcoming Breakaways, Advisory Firm
Top Executive: Dan Arnold

Raymond James Financial Inc.
Asset Custodian
Top Executive: Bill Van Law

Diamond Consultants
Recruiter
Top Executive: Mindy Diamond



RIABiz Directory

The Industry Sourcebook for RIAs

   |    LISTING


RIABiz Directory sponsored by:

Directory Sponsor Logo

White Paper Postings


Common Tags


Recent Articles


Popular Writers


RIABiz logo

RIABiz

About Us

Directory

Archives

Connect

RIABiz, Mill Valley, California
Copyright © 2009-2024 RIABiz Inc. All rights reserved.