Wells Fargo Veteran Joins Former Colleagues at Raymond James
A Wells Fargo broker in Greenville, South Carolina, has followed two former colleagues to Raymond James & Associates in the same city, according to an announcement that the team tweeted on Friday.
Gregory Steven Sieber, a 35-year brokerage veteran who had spent the last 12 with Wells Advisors’ private client group, joined former colleagues Jeffery (Jef) Lockman and Aaron Galloway at the Harvest Wealth Advisory Group they set up under Raymond James’ rooftop in April.
Sieber’s move is not yet recorded on his BrokerCheck record.
Whitney Burton a registered client service associate on the Harvest team, said Sieber was not available for comment because he was busy calling his former customers. She declined to discuss the team’s or Sieber’s assets under management or production. Lockman did not return a call for comment.
Sieber, who was a senior vice president at Wells, began his brokerage career in 1981. He spent his first four years at regionals Edgar M. Norris & Co. and Interstate Securities, before moving to Citigroup Global Markets/Smith Barney in 1984 for a 21-year sojourn, according to BrokerCheck.
He joined Wells in January 2006, three years before Lockman, who followed Sieber to Wells after spending nine years at Smith Barney’s Greenville office.
Galloway, the team’s junior member, began his brokerage career at Wells in August 2015, according to BrokerCheck.
A Wells spokeswoman did not immediately respond to a request for confirmation of Sieber’s departure.
The move, which coincides with a traditionally active President’s Day recruiting weekend, comes amid a relatively staid period of movement. Since Morgan Stanley and UBS Financial Services withdrew from the Protocol for Broker Recruiting late last year, few competitors have lifted advisors for fear of attracting lawsuits from those firms that could restrain brokers from calling former clients.
Wells Fargo and Merrill Lynch, the two “wirehouses” still in the Protocol, are more vulnerable to losing advisors to other members of the pact but have thus far not suffered big exoduses, recruiters say. The pact permits brokers to move among signatory firms with a limited amount of customer-contact information without fear of being sued or taken to arbitration.
Janney Montgomery Scott said Thursday that it hired a broker in Connecticut from Merrill broker who was managing about $220 million in client assets.