Raymond James recruiting hot streak continues with $275M hire

Raymond James Financial Services continued its strong recruiting streak, nabbing two Wells Fargo advisers who were managing $275 million in client assets.

Jeff Holloway and Sean Harman, who are both certified financial planners and based in Kansas City, Missouri, had approximately $1.4 million in production while at Wells Fargo’s independent channel, according to a statement from Raymond James.

Operating as Holloway Harman & Associates, the team targets retirees, business owners, executives and families. "Our main goal was finding a brokerage firm whose primary focus was wealth management," Holloway said in a statement.

HEADCOUNT CONTRAST

Raymond James has had an impressive string of recruiting successes to date in 2017 which has helped boost the firm's adviser headcount and net new adviser assets. In the first quarter Raymond James Private Client Group's assets increased 26% to $611 billion from the same period last year.

Wells Fargo, by contrast, has seen a number of team departures this year. Nonetheless, despite the shrinking headcount, profits at the wealth management division of the bank surged 22% in the first quarter.

• Going independent
• Independent BDs
• Career moves
• Recruiting
• Wirehouses
• Wirehouse advisors
• RIAs

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Holloway and Harman both began their financial services career at Edward Jones and then worked for A.G. Edwards and Wells Fargo Advisors. They moved to the independent side of Wells Fargo in 2010, according to BrokerCheck records.

The new RJFS team will be joined by Betty Wilson, Amanda Miller and Whitney Scobee. The group switched firms in February, according to FINRA BrokerCheck records