A Massachusetts-based group of five advisors managing about $800 million in assets is joining Raymond James’ independent channel from Commonwealth Financial Network.
The advisors include Jonathan Wolff, Scott Schutte, Justin Turcotte, Jack Wolff and Evan Mattern, who created Lightship Wealth Strategies via Raymond James’ independent channel; three client service associates will join them.
The team is based in Newton Lower Falls, about 15 miles outside of Boston, and works with a variety of clients, including business owners, high-net-worth individuals and families. According to SEC records, founder Jonathan Wolff entered the industry in 1983 at Northwestern Mutual and joined Commonwealth in 2006, where he worked until this week’s move to Raymond James.
“Ultimately, the firm’s leading-edge technology, its banking and lending capabilities and wide range of high-net-worth options suits our clients perfectly,” Wolff said of the reasoning behind moving to Raymond James.
In Fiscal Year 2025, Raymond James Chief Financial Officer Paul Shoukry will succeed Paul Reilly as CEO, becoming the fourth in the firm’s history (until then, he’ll serve as interim president). Reilly will remain on the board of directors as executive chair. The move was part of a broader “multi-year succession planning process.”
COO Jeff Dowdle will leave his role in October, and Private Client Group President Scott Curtis will take his place (Dowdle will become vice chair). Tash Elwyn heads Raymond James’ employee advisor channel and will move into Curtis’s role.
Jim Bunn, the current president of global equities and investment banking, will become president of the capital markets segment. The new employee advisor channel president will be announced later this year.
Raymond James has about 8,700 advisors across several affiliation models, with approximately $1.38 trillion in total client assets.