Independent broker-dealer Raymond James has strengthened its Midwest footprint with the addition of a four-advisor team from D.M. Kelly & Company, bringing approximately $1.25 billion in client assets. The group, now operating as Greenwood Wealth Partners of Raymond James, is based in Clive, Iowa, and joined the firm's employee channel, Raymond James Associates, this week.
The team includes David Lorbiecki, Dan "Chris" McPhail Jr., David Haas, and Willis Gaer, along with practice business manager Holly Ellsworth. Lorbiecki and McPhail arrive as senior vice presidents of investments, while Haas takes on the role of vice president of investments. Lorbiecki, who entered the industry in 1993, spent three decades at his previous firm; McPhail began in 2007, Haas in 2008, and Gaer in 2022.
Lorbiecki cited Raymond James's culture as a key factor in the move. "Just as important, Raymond James' client focused culture and respect for our independence enable us to run our business in a way that reflects who we are: hardworking advisors focused on doing what is right for our clients," he said in a statement. The addition follows other recent hires by Raymond James, including a veteran team managing $800 million, as reported in a prior move.
UBS bolsters Silicon Valley presence
On the West Coast, UBS has recruited two advisors from Merrill Lynch to serve the Silicon Valley market. John Pham and Jimmy Yip have joined UBS offices in Palo Alto and San Jose, California, according to a Friday announcement. Pham brings more than 22 years of experience advising tech executives, entrepreneurs, and families, while Yip has worked in financial services since 2004, focusing on professionals and business owners.
The team also includes client associates Leslie Vinoya, Kimberly Russell, and Randall Bane. They will operate under the UBS San Francisco Market, led by market executive Emily de la Reguera, and report to Silicon Valley market director Jacqueline Kehoe, who previously worked with the advisors during her tenure at Merrill. Kehoe noted that her prior relationship with the team was instrumental in their decision to move. "I have had the opportunity to work alongside this team and witness firsthand their dedication to delivering outstanding client service and fostering long-term relationships," she said.
Ameriprise expands Boca Raton practice
Ameriprise Financial has added a next-generation advisor to its branch channel in Florida. Colin Gates, who managed more than $120 million at Merrill Lynch, Pierce, Fenner & Smith, has joined The Atlantic Group in Boca Raton, the firm said Thursday. The practice, led by founding partners Andrew Lerner and Logan Shalmi, recently moved to Ameriprise from Oppenheimer in October 2025, bringing over $1.6 billion in client assets.
Since that transition, The Atlantic Group has added three financial advisors and three support staff, growing its client assets by more than $400 million. The operation now includes 12 advisors and 10 support staff overseeing approximately $2 billion. Gates said Ameriprise's commitment to advisor growth and its investments in technology and planning capabilities were decisive. The team is supported locally by branch manager Drew Granauro, complex director Daniel Landrau, and regional vice president Michael Rearden.
These moves reflect a broader trend of advisor mobility, with firms like LPL and Cetera also adding teams. For advisors, the choice often hinges on platform support and cultural fit, as seen in the recent RBC recruitment of a $2B team from Bank of America Private Bank.
