ON THE MOVE-Raymond James hires four brokers, one executive from rivals
NEW YORK, July 18
NEW YORK, July 18 (Reuters) - Securities brokerage Raymond James Financial announced on Friday it hired four financial advisers and one executive away from rival brokerages in the last few months, all to join offices in Florida.
Brokers Gary Vescio and Brandon Levine joined Raymond James & Associates, the branch-based arm of Raymond James Financial, in Palm Beach Gardens on July 2 from UBS Financial Services . The team managed $100 million in assets and produced $1.4 million in revenue over the last 12 months at UBS.
Two months earlier, on May 16, Christopher Fluehr and Jason Mamalis also joined Raymond James & Associates in Boca Raton, Florida, from Wells Fargo Advisors, where they managed $200 million in client assets and generated $1 million in revenue over the last year.
A spokeswoman for Wells Fargo confirmed Fluehr and Mamalis left the firm. UBS did not immediately respond to request for comment.
Capping off the new recruits, the firm hired Frank McAleer from Janney Montgomery Scott to head its retirement solutions for parent company Raymond James Financial. McAleer takes over for Shannon Reid, who was promoted to vice president of private client group education and practice management in May.
Prior to joining Raymond James, McAleer was the senior vice president and head of managed and income solutions at Janney based in Philadelphia.
A spokeswoman for Janney did not immediately respond with comment.
(Reporting by Elizabeth Dilts; Editing by Lisa Shumaker)