A Texas-based advisor managing over $1.3 billion in property is becoming a member of Raymond James from Merrill Lynch, the second $1 billion-plus crew to go away the wirehouse for Raymond James this week.
Melinda Johnston is primarily based in Fort Value, Texas, and can be a part of Raymond James’ worker advisor channel, designed for wirehouse breakaways.
Apply Supervisor Kristin Stanley, Funding Portfolio Affiliate Nick Olivarri and Senior Consumer Service Affiliate Judy Frank may even be a part of her to kind M2J Wealth Administration Group of Raymond James. They’ll work with enterprise house owners, company executives, household workplaces and particular person purchasers out of Raymond James’ department in Fort Value.
Johnston has greater than 40 years of expertise within the trade, beginning at Prudential in 1984. In 1995, she joined UBS and stayed for 21 years earlier than shifting to Merrill Lynch eight years in the past. In a press release concerning the deal, Johnston mentioned working with Raymond James will let the crew develop its observe in a “approach that aligns with our long-term targets.”
Johnston’s transfer comes simply days after Raymond James recruited a Williamsville, N.Y.-based five-person advisor crew managing greater than $1 billion in property to their worker advisor channel from Merrill.
The crew is led by advisors Christopher Scott, Kevin Klein, Michael Gates and Salvatore Gandolfo, with assist from monetary advisor Jeffrey Baker and shopper relationship associates Alicia Birch, Jaclyn Greiner, Christina Ivancic and Elia Criola. Scott and Klein spent greater than 20 years on the wirehouse; Gates and Gandolfo joined Merrill about 14 years in the past.
The agency introduced earlier this yr that present CFO Paul Shoukry will succeed CEO Paul Reilly as head of the corporate, a part of a broader “multi-year succession planning course of.”
The agency additionally promoted Tom Walrond to steer Raymond James & Associates, the agency’s worker advisor channel, succeeding Tash Elwyn, who was appointed the president of Raymond James’ Personal Consumer Group.
