Raymond James Financial Appoints New Leader for Western Division

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Raymond James Financial has announced the appointment of a new leader for its Western Division, as well as a reorganization of its Alex. Brown unit, effective October 1.

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Bert White to Replace Pat Allison as Western Division Director

Bert White will replace Pat Allison, who is set to retire at the end of the year, as the new Western Division Director, according to Raymond James. White, who joined Raymond James & Associates from Morgan Stanley in 2017, previously oversaw the South Florida complex for the company. In 2019, he was promoted to Regional Director, responsible for overseeing 50 Raymond James branches in Florida.

Expansion in California

Raymond James & Associates has also announced plans to add a new Regional Director focused on developing the business in California. Tash Elwyn, President and CEO of Raymond James & Associates, believes that these strategic moves will contribute to the firm’s growth by increasing the number of advisors in the Western U.S.

Tim Killgoar to Succeed White as Regional Director of Florida

Tim Killgoar, currently the Head of the Financial Institutions Division within Raymond James Financial Services, will succeed Bert White as the Regional Director of Florida. Killgoar has been with Raymond James since 2008 and brings a wealth of experience to his new role.

With these changes, Raymond James Financial is positioning itself for continued success and growth in the Western U.S. market.

Alex. Brown Reorganization

Raymond James acquired Alex. Brown from Deutsche Bank in 2017, integrating it into its own operations focused on high-net-worth and ultrahigh-net-worth individuals within Raymond James & Associates. In recent news, Haig Ariyan, the longstanding leader of Alex. Brown, has departed from the company to pursue a new role with private-equity firm RedBird Capital Partners. However, there is no further information provided regarding the leadership reorganization in Thursday’s announcement.

Earlier this year, Raymond James underwent a reorganization of its employee broker-dealer operations in Illinois. This resulted in the separation of its Illinois Complex into two distinct units: Chicago and Central Illinois. Presently, Chris Fils heads the Chicago unit, while Sara Schupp oversees the Central Illinois unit.

Headquartered in St. Petersburg, Florida, Raymond James has been continuously expanding its advisory team through recruitment efforts over the years. The company currently boasts around 8,700 employee and independent financial advisors, managing approximately $1.2 trillion in client assets as of May 31.

Simultaneously with White’s promotion, Raymond James disclosed its successful recruitment of three former Wells Fargo advisors for its independent channel in Clearwater, Florida. These advisors, Sydney Niewierski, Robert Chiavacci, and John Odom, collectively oversaw a portfolio worth approximately $350 million.

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