RayJay Hires Wells Fargo Manager to Lead Miami-area Office
Raymond James Financial has filled a year-long management vacancy in its Coral Gables, Fla., office with a longtime Wells Fargo advisor, according to sources familiar with the move.
Michael J. Origlia, who had spent 11 years of his 17-year brokerage career at Wells, joined the St. Petersburg, Fla.-based firm on Friday. The Coral Gables branch is one of the largest in Raymond James’ employee channel, with about 61 brokers and client associates producing some $70 million in annual fees and commissions, said a person who spoke on condition of anonymity.
The branch has been without a senior manager since Frank Amigo, now with Janney Montgomery Scott, was put on administrative leave by Raymond James in March in connection with investigations into the firm’s complicity in the Jay Peak fraud orchestrated by a former client. Amigo was not a defendant in government and class-action cases related to the fraud but Raymond James agreed to a $150 million settlement in April with the Securities and Exchange Commision.
At Wells Fargo Advisors, Origilia had been running a Boca Raton office with “80 professionals” since 2013, according to a Wells website. In other management roles at Wells and its Wachovia and Prudential Securities predecessors, he has supervised training and onboarding and eCommerce and Brokerage Operations, according to his LinkedIn profile.
Origilia was not available for comment, said a person answering the phone at RayJay’s Coral Gables branch.
Spokespeople at Raymond James and Wells Fargo did not return requests for comment on the move.
Both firms are members of the Protocol for Broker Recruiting. Wells earlier this week reiterated its commitment to stay in the pact, which allows advisors to move among signatory firms with relative ease. Recruiting is a major objective of branch managers.
Origlia began his career at Lehman Brothers in 1999 and joined Prudential Securities in 2001, according to his BrokerCheck history. Aside from stints of six months at Edward Jones in 2005 and 18 months at Wit Capital from 1999 to 2001, his entire career has been spent at Wells and predecessor brokerage firms. He has no disclosures on his BrokerCheck history.