Raymond James Financial has lured a team of two financial advisers from Merrill Lynch that managed over US$210 million in client assets.
The team, which includes Nick Salvetti and AJ Salvetti will join the firm’s California office and will operate as The Salvetti Group, Family Wealth Advisors with securities offered through RJFS.
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Merrill Lynch said that the team previously had annual production in fees and commission of more than US$1.1 million.
Nick Salvetti with over 15 years’ experience in the financial services industry has joined Raymond James from Merrill Lynch in Stockton, where he served as vice president, investments and portfolio manager. He started his career at Morgan Stanley in Sacramento in 1998.
Prior to joining Raymond James, AJ Salvetti most recently served as vice president, investments and portfolio manager at Merrill Lynch. He also served as a financial advisor and vice president at Morgan Stanley.
Additionally, a senior client services associate, Patti Pedrucci, will also join the Salvetti team. Previously, Beckwith has worked with Merrill Lynch and at A.G. Edwards.
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By GlobalDataAJ Salvetti said: "We looked at a number of independent firms and really liked the fact that Raymond James had a strong balance sheet, was a well-managed public company and had a great reputation for putting clients first and supporting its advisors."
Bill Counsman, regional director for RJFS, said: "Their approach and processes are focused on putting their clients’ interests first, which is what we believe in and continually strive for. We look forward to providing support to them, their practice and, in turn, their clients."
