Wells Fargo loses $230M team to Raymond James

Four-adviser team Cygnus Asset Management of Charlotte, N.C., is leaving Wells Fargo's Financial Network channel.

Four advisers and their five-person staff in Charlotte, N.C., have switched affiliations from Wells Fargo Financial Network to Raymond James Financial Services.

Cygnus Asset Management, which advises on $230 million in assets, is led by Lisa McIntire Shaw, Clif McIntire, Nathan Peterson and Jonathan Lindner, Raymond James said in a release.

Ms. Shaw had been with Wells Fargo for seven years. She started her career in 1992 at PaineWebber and moved to Morgan Keegan & Co. in 2000, where she stayed for nine years.

Mr. McIntire, a 54-year brokerage industry veteran, had been with several leading firms before moving to PaineWebber in 1988, where he began working with Ms. Shaw. They have continued to work as a team since then.

Mr. Peterson began his career in 2004 at Morgan Keegan, and began working with Ms. Shaw and Mr. McIntire in 2009.

Mr. Lindner became part of the team after he joined Wells Fargo Financial Advisors in 2014.