By Corrie Driebusch
A high-producing team of financial advisers based in Richmond,
Va., have joined Raymond James Financial Inc. (RJF) from Wells
Fargo & Co (WFC).
Robert J. Wood, Robert J. Wood Jr. and Carlton Brown, who are
now with Raymond James Private Client Group, collectively generated
about $2 million a year in fees and commissions while at Wells
Fargo, according to their new employer.
They switched firms last week. All three had spent more than a
decade with Wells Fargo Advisors, which confirmed the departures
but declined to comment further.
Courtney Raymond, whose Houston-based recruiting firm
facilitated the move, said she expects a flurry of such moves by
mid-summer. A "big crush of the bigger, old-school teams" are
hurrying to change firms before regulators approve new rules
obliging brokers to disclose details of any big-money signing
bonuses they get, she said.
(Street Moves chronicles the migration of executives on Wall
Street, with a particular emphasis on financial advisers with more
than $1 million in annual production and those who manage more than
$100 million in client assets.)
Write to Corrie Driebusch at corrie.driebusch@wsj.com
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