Florida Gulf complex head Gregg Stupinski had been with Morgan Stanley and Smith Barney for 24 years, and is the second veteran manager to make that career journey in three weeks.
Departure of 48-year industry veteran and her younger partner on Thursday follows that of another two-broker team to Wells Fargo, depleting the wirehouse branch of about $2.8 million of production in ten days.
New hire appears to be the first in the Bay area for the slow-growing “high-net-worth” business that Raymond James bought from Deutsche Bank in 2016.
The departure of the two advisors follows the exit of a $730-million asset team in Ohio earlier this week from from the Swiss bank’s U.S. brokerage operation.
Led by a broker who joined UBS from Smith Barney in 2008, the six-broker team was managing about $700 million of customer assets.
Florida-based company added a net 278 brokers across its brokerage and advisory channels in 2018, including just two in its last quarter, but is not competing by hiking signing deals.
Brittany Boals Moeller takes reins of Atlanta from departing manager while Raymond James unit recruits a Bernstein broker in the Georgia capital.
Broker who moved with two Scottsdale teammates in late September rejoined his former firm after five weeks.
Faces class-action trial over Passport Account fees in April, but was indemnified $20 million by former parent of Morgan Keegan for short-selling settlement.