The move has led to the advisor headcount drop of MSSB drop by more than 1,050 in the past year, AdvisorOne stated.
Raymond James said that Vann Ashley Wilder and Van R. Martin had joined its employee broker-dealer Raymond James & Associates, which is led by Tash Elwyn.
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The duo has come on board with about US$300 million in client assets and more than US$1 million in yearly fees and commissions.
Further, the team, also known as the Gables Legacy Group, will report to Frank Amigo, South Florida complex manager.
While Wilder is a 38-year industry veteran, and a portfolio manager and wealth-management specialist who began his career at Reynolds in 1974 and joined Smith Barney in 1981, Martin has more than 10 years of industry experience and started work in the industry at PFS Investments, before joining Morgan Stanley Smith Barney in 2009.
Wells Fargo, meanwhile, said that it has recruited two teams with combined assets of US$225 million to join Financial Network, one of its independent channels.
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By GlobalDataWells Fargo also added that the practices, which are based in Connecticut and Utah, are now among nearly 550 practices with US$56 billion in assets across the country that constitutes FiNet.
