A team of brokers in Manhattan managing more than $1 billion in client assets are leaving Wells Fargo for Raymond James.
Advisors Stephen Adler, Mark Levy, Roger Jee and Michael Lubin said Wednesday they were leaving Wells Fargo to join Raymond James & Associates, the independent firm’s traditional employee broker/dealer. They will all hold the title of managing director of investments at the new group.
The the group will operate as Adler, Levy, Jee & Lubin Wealth Management of Raymond James. Allison Guzman and Stephen Orzo, financial advisors who are currently part of Raymond James’ Advisor Mastery Program, are also joining the new group, as well as Christopher Swanson, a senior investment management specialist, and James Havell, a practice marketing associate.
“The primary reason we came to Raymond James is because of the firm’s client-first focus,” Levy said. “At the same time, Raymond James is advisor-centric, recognizing that their relationship with the client is through the advisor. They offer advisors like us the freedom to serve our clients the way we know best, and the technology and support to help us grow our businesses.”
Levy, who has more than 30 years of industry experience, worked at E.F. Hutton & Co. and other firms before joining Wells Fargo in 2006.
Adler, with more than 40 years of industry experience, also worked at E.F. Hutton & Co. and CIBC Oppenheimer and C.E. Unterberg, Towbin before he joined Wells Fargo in 2006.
Jee started his career at Smith Barney and ultimately ended up with Adler and Levy at Wells Fargo, and now Raymond James. Lubin has more than 20 years of wealth management experience, first as a finance reporter for several publications, including Thomson Financials’ Securities Industry News, before joining Gruntal & Co. in 1997, where he started managing portfolios for clients.
Raymond James is amidst another record year in terms of recruiting advisors.
Among others recently, the firm has recruited a pair of brokers in Santa Rosa, Calif., managing $462 million and four groups in Georgia managing an aggregate of more $550 million.