Raymond James Investment Advisors, a division of Raymond James Financial, has lured two advisers from Bank of New York Mellon to set up a new advisory firm based in Tampa, Florida.
Known as REI Wealth Management, the new firm will be led by Raymond Ifert, who will serve as president and CEO alongside Lorraine Faed, who will serve as vice president of REI Wealth Management.
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The new firm aims to focus on HNW clients, trusts, foundations and endowments, charitable institutions, corporations and small business.
Ifert said that he has selected Raymond James’ custodial operation due the firm’s solid financials, and its bank and trust services.
"I need to partner with a firm that can help my clients on both sides of the balance sheet," Ifert added.
Ifert previously managed $850 million in client assets at BNY Mellon’s Tampa office, while Faedo worked as an assistant portfolio officer for BNY Mellon Wealth Management.
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By GlobalDataRaymond James Investment Advisors provides custodial and support services to independent, fee-based registered investment advisors and others.
