Raymond James is poised to finish its February acquisition sprint on a strong note as it onboards another high-net-worth practice into its ranks. The firm announced that Raymond James Financial Services, its independent advisor channel, has just welcomed Jesse Anderson, Christopher McKelvey, and Anthony Gilotti.
Based in Winter Park, Florida, Anderson, McKelvey, and Gilotti are joining the firm from Merrill Lynch, where they ran a practice with over $450 million in client assets under management.
Operating under the banner of Anderson McKelvey Group, the three advisors bring together 36 years’ worth of industry experience across multiple areas of expertise, including financial planning and investment advice.
Their client relationships cover a diverse cross-section of the high-net-worth space, with clients running the gamut from families to retirees, business owners, and corporate executives in the aerospace and defense sectors.
They are joined by their support staff, which includes client service associates Sharon Bhowanidin and Gladys Green, as well as branch operations coordinator Brandon Matadin.
“We feel that Raymond James has the perfect combination of large firm resources with small firm independence,” Anderson, a 22-year veteran of the industry, said in a statement. “Once we explored the firm’s culture and capabilities, the decision became an easy one.”
“I’m pleased to welcome the team of talented advisors and professionals at Anderson McKelvey Group to Raymond James,” said Todd Gartrell, who heads the Southeast division for RJFS.
The Anderson McKelvey Group’s transition to Raymond James comes just a few days after the independent wealth giant announced it was welcoming VistaCrest Financial, a Texas-based practice with a reported $123 million in client assets.
The move is also the latest in a handful of advisor departures from Merrill Lynch this month, including the recent exodus of $2 billion practice Foley DeLuise & Associates to UBS. A billion-dollar advisor duo also left Merrill Lynch to start afresh at LPL with their Pennsylvania-based practice.
New chief executive Rich Steinmeier replaced Dan Arnold on October 1.
The global firm is navigating a crisis of confidence as an SEC and DOJ probe into its Western Asset Management business sparked a historic $37B exodus.
Beyond returns, asset managers have to elevate their relationship with digital applications and a multichannel strategy, says JD Power.
New survey finds varied levels of loyalty to advisors by generation.
Busy day for results, key data give markets concerns.
A great man died recently, but this did not make headlines. In fact, it barely even made the news. Maybe it’s because many have already mourned the departure of his greatest legacy: the 60/40 portfolio.
Discover the award-winning strategies behind Destiny Wealth Partners' client-centric approach.
