At a glance
- The Krawecs will run the practice as Krawec Wealth Management of Raymond James in Westlake, Ohio, serving business owners, corporate executives and retirees.
- For Edward Jones advisors with a book of roughly $160 million, LPL offers both brokerage and fee-based accounts in exchange for running the business themselves.
- LPL reported $24 billion in recruited assets for the third quarter, down slightly from $25 billion in the second, and named Ken Hullings as head of recruiting earlier this month.
Raymond James recruited Ted Krawec and his son Jordan Krawec, a team that managed more than $460 million in client assets at Wells Fargo, to its employee advisor channel, InvestmentNews reported Oct. 28.
The Krawecs will run the practice as Krawec Wealth Management of Raymond James in Westlake, Ohio, serving business owners, corporate executives and retirees. Ted Krawec spent 21 years at his prior firm and nearly four decades in the industry. Jordan spent seven years there. Senior registered client associate Natalie Sutcliffe and financial advisor trainee Ethan Veselic moved with them. Amy Smart, Mid-American regional director, confirmed the hire. In September, the channel announced a $1.25 billion team from D.M. Kelly & Company in Iowa.
For Edward Jones advisors with a book of roughly $160 million, LPL offers both brokerage and fee-based accounts in exchange for running the business themselves. Matt Griggs moved his practice, Griggs Investment Group, from Edward Jones to LPL Financial's broker-dealer and registered investment advisor platforms. Based in Eufaula, Alabama, he reported serving roughly $160 million in advisory, brokerage and retirement plan assets. Griggs said greater control over his practice and its pricing drove the switch.
LPL reported $24 billion in recruited assets for the third quarter, down slightly from $25 billion in the second, and named Ken Hullings as head of recruiting earlier this month.
William Blair opened a Dallas wealth office staffed by a team from UBS. Assets and team size were not disclosed.
Krawec team was Raymond James' second-largest recent hire
Client assets each team brought to Raymond James' employee advisor channel
- D.M. Kelly team (Iowa)$1.3K
- Krawec team (Ohio)$460M
- UBS team, 3 advisors$245M
Show as table
| Item | Value ($M) |
|---|---|
| D.M. Kelly team (Iowa) | $1.3K |
| Krawec team (Ohio) | $460M |
| UBS team, 3 advisors | $245M |
Reported by the Moves desk from InvestmentNews and Private Wealth Daily's Moves Wire. Published . Corrections