Raymond James has drawn a three-advisor team from Stifel to its independent advisor channel, the firm announced on Thursday.
The trio – operating as ARC Wealth Management in Salt Lake City, Utah – includes Richard Romano Jr., Amanda Arcilesi Simmons and Brian Collard.
Romano, Simmons, and Collard were at Stifel for three years, before which they spent time together at Morgan Stanley and Wells Fargo, as indicated their BrokerCheck records with FINRA.
With the support of director of Branch Operations Kelsey Haycock and director of Client Services Meredith Duncan, the ARC Wealth team reportedly managed some $620 million in assets at their previous firm, according to the announcement.
ARC Wealth Management serves a broad client base that includes business owners, endowments, foundations, nonprofits, families and retirees, providing customized financial strategies and wealth management guidance.
Romano, the team's founder and managing partner, brings more than 30 years of industry experience and a focus on legacy-oriented wealth planning.
"Our goal is to deliver comprehensive, personalized guidance that merges white glove service with modern efficiency," he said.
Simmons, who began her financial services career in 2008, builds holistic strategies and risk-appropriate investment plans, while Collard – in the industry since 2005 – focuses on individuals, retirees and businesses.
Russell Austin, a private wealth advisor previously with Edward Jones in Spartanburg, S.C., has joined Ameriprise Financial's independent channel with more than $120 million in client assets, according to the firm's announcement.
His practice, Freedom Ridge Private Wealth, includes client relationship manager Pamela Jones and provides comprehensive financial planning to individuals and families.
Austin said he evaluated multiple firms before settling on Ameriprise, citing the combination of advanced technology, artificial intelligence capabilities and the firm's broader platform as differentiating factors.
"The technology available to both our team and clients enhances how we deliver advice, creating a more seamless and engaging experience," he said.
The practice is supported locally by Ameriprise Franchise Field Vice President Kevin Sevlie and Ameriprise Regional Vice President Mike Barker.
Another defector from Edward Jones, Les Smith, has launched his own firm through LPL's brokerr-dealer and RIA platform.
Operating in Spring Hill, Tennessee, Smith oversees roughly $185 million in advisory, brokerage and retirement plan assets. His practice centers on pre- and post-retirement clients with a particular emphasis on blue-collar individuals and families who, as he describes it, value hard work, integrity and having a trusted advocate in their corner.
Smith built his client base organically through direct outreach rather than acquisitions, and his approach leans on regular communication and ongoing refinement of individual financial plans.
In a statement announcing the move, he highlighted how LPL's "technology, autonomy and forward-thinking approach" allowed him to delve deeper into tax and estate planning "while maintaining the flexibility to make timely decisions on behalf of my clients."
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