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A California-based UBS crew with about $300 million in managed belongings is becoming a member of Raymond James’ worker advisor channel.
The advisory crew of Jennifer and Steven Hocking (who’re married) and Ryan Mueller will function as THG Retirement Options of Raymond James out of Irvine, Calif., together with senior shopper service affiliate Jennifer Uy and advertising and marketing specialist Karla Castro.
The crew focuses on monetary planning and wealth administration for enterprise house owners and people nearing (or in the course of) their retirement. In response to Mueller, the crew landed on Raymond James due to a “complete suite” of expertise instruments.
“This transfer has allowed us to boost our service mannequin by offering expanded communication channels and choices for our purchasers utilizing top-of-the-line expertise sources,” he stated.
Steven Hocking has greater than 20 years within the business, with 15 years at UBS and prior stints at Merrill Lynch and Farmers Monetary Options. Jennifer Hocking joined the business at Toutoa Finacial Companies in 2002, transferring to UBS in 2015. Mueller joined UBS as an advisor in 2018.
The transition comes shortly after Raymond James introduced that Chief Monetary Officer Paul Shoukry will succeed Paul Reilly as CEO in its fiscal yr 2025, changing into the fourth individual to carry the highest spot within the firm’s historical past (Shoukry will function agency president within the interim).
The succession is one among a number of intra-company strikes in a “multi-year succession planning course of,” in response to Raymond James. As of Oct. 1, Scott Curtis, president of the agency’s non-public shopper group, will take over the function of chief working officer from Jeff Dowdle, who will grow to be vice chair.
Tash Elwyn, who runs the agency’s worker advisory channel, will take over Curtis’ place. On the similar time, Jim Bunn, president of world equities and funding banking, will grow to be president of the capital markets section.
The agency beforehand introduced that Alex David, former president and CEO of Stifel Monetary’s unbiased contractor b/d, would oversee the agency’s Northeast division in its unbiased advisor channel (succeeding Shannon Reid, who took over as the top of its unbiased contractor division).
A number of groups have moved from the wirehouses to Raymond James because the begin of the yr, establishing store in both the agency’s unbiased or worker channels. In late February, the Florida-based crew Anderson McKelvey Group joined from Merrill Lynch, the place they managed about $450 million in belongings.
Moreover, a duo out of Hanover, N.H. joined Raymond James’ worker channel from Morgan Stanley earlier this month; they managed about $350 million in shopper belongings when making the transfer. In early February, Andrew Ober, an N.J.-based advisor managing about $165 million in belongings, joined its unbiased channel from UBS.
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