An advisor team with about $600 million in client assets is joining Raymond James & Associates from Wells Fargo Advisors.
Financial advisors Geoffrey P. Sisk, Hynson H. Marvel and Jason Statuta will form Sisk & Marvel Investment Group of Raymond James, and will be based in Richmond, Va. At Wells Fargo, the team specialized in working with a variety of clients, including high-net-worth individuals, foundations and endowments. Sisk said the team considered several firms before selecting Raymond James, saying it was seeking a "client focused" firm.
“Additionally, because of our client mix, it was important to us that the firm has comprehensive trust and banking services in house,” Sisk said. “We also appreciated that Raymond James has a robust technology platform and offers agency-style marketing support.”
In January, Raymond James reached an agreement to purchase New York-based Silver Lane Advisors, a boutique investment bank specializing in helping financial services firms with mergers and acquisitions. The firm formed a new asset and wealth management group within Raymond James Investment Banking’s financial services practice.
The brokerage also moved to expand its services in Canada, announcing the formation of a trust company in Montreal, Quebec, to offer “integrated estate/succession, trust and power of attorney/mandate services” to advisors and portfolio managers throughout Canada.
One week earlier, Raymond James announced plans to create a network to help buyers and sellers of advisory practices to connect with each other. The platform would be available exclusively to Raymond James advisors, with work on it expected to be completed by the end of the year.