Raymond James Expands Wealth Management Capabilities with $1.8 Billion Advisor Team

Raymond James Financial welcomes a $1.8 billion financial advisor team from M Financial Group, enhancing its wealth management capabilities and service offerings. The team, led by Thomas C. Rapp, Ronald J. Greenberg, and Patrick Maguire, operates from New Jersey and Florida and specializes in ultra-high-net-worth client services. This strategic addition expands Raymond James' presence in key markets and bolsters its competitive edge.

Raymond James Financial (NYSE:RJF) has recently bolstered its wealth management capabilities by welcoming a significant team of financial advisors from M Financial Group. The 16-member team, led by Thomas C. Rapp, Ronald J. Greenberg, and Patrick Maguire, specializes in serving ultra-high-net-worth families through sophisticated wealth management strategies, private placement life insurance, and private placement variable annuities [1].

The team, operating from offices in Morristown, New Jersey and West Palm Beach, Florida, brings with it approximately $1.8 billion in client assets. This strategic addition enhances Raymond James' presence in key wealth markets and bolsters its competitive edge in the ultra-high-net-worth segment [1].

The acquisition of Greenberg & Rapp, the former team from M Financial Group, is particularly valuable due to their expertise in sophisticated wealth management strategies and products that offer tax advantages for wealthy investors. This expertise complements Raymond James' existing Private Wealth program, enabling the firm to serve its most affluent clients more effectively [1].

The decision to join Raymond James was driven by the firm's advanced technology, home office support, and culture of independence, which were cited as key factors by the advisors [1]. This acquisition further underscores Raymond James' ability to attract established advisory teams, particularly those serving wealthy clients who require sophisticated planning solutions.

The addition of this $1.8 billion team represents approximately 0.11% of Raymond James' total client assets of $1.64 trillion. While relatively small compared to their overall asset base, the specialized nature of this practice and its focus on ultra-high-net-worth clients make it more significant than the percentage suggests [1].

Raymond James Financial Services, Inc. (RJFS), member FINRA/SIPC, is a financial services firm supporting independent financial advisors nationwide. Since 1974, RJFS has provided a wide range of investment and wealth planning-related services through its affiliate, Raymond James & Associates, Inc. [1].

References:
[1] https://www.stocktitan.net/news/RJF/raymond-james-welcomes-1-8-billion-financial-advisor-team-in-new-ixncjuahs6es.html