Just the beginning of mass exists, and they will bring their clients with them. As you can see, everyone is leaving and will bring their portfolios with them.
“As financial advisors, we feel a responsibility to choose a partner that shares our values and dedication to clients.
https://www.fa-mag.com/news/raymond-james-takes-on--1b-team-from-bank-giant-in-virginia-62477.html
Raymond James Adds $1B Virginia Team From Big Bank
JUNE 9, 2021 • ERIC RASMUSSEN
Raymond James has snagged a team of advisors from Virginia who previously handled almost $1 billion in assets at one of the country’s largest banks.
Advisors John Gill and Bryan Horner have come over to Raymond James & Associates—the firm’s employee advisor channel—to work in the Virginia Beach office. They bring with them Mari Hurd, a business practice coordinator, and Katie Bosler, a senior registered client associate. The team previously handled $975 million in assets at Truist Bank, according to Raymond James.
The team members are veterans of the many predecessor brokerages and banks that forged to make Truist in 2019. Longtime industry player John Gill started with Scott & Stringfellow in 1989. That firm was eventually swallowed by BB&T to become BB&T Scott & Stringfellow, and that firm merged with SunTrust in 2019 to create Truist, now the sixth-largest U.S. bank, in what the Charlotte Observer called the largest bank merger since the financial crisis. That merger reportedly meant there would be many overlapping branches, and Richmond BizSense reported in February that the bank would be closing dozens of those branches in Virginia. It was unclear how this affected the bank’s wealth management business, which makes up a relatively small piece of revenue, according to SEC filing