An advisor managing more than $750 million is joining Raymond James’ employee advisor channel after 14 years with Charles Schwab.
Lynette Ancona is based in Winter Park, Fla., and as a result of the move, she’ll form Ancona Wealth Management of Raymond James along with client service associate Stephanie Gisler. She will also take on the title of senior vice president, wealth management.
Ancona’s client base includes business owners, executives, families and individual clients preparing for (or in the middle of) their retirement.
Ancona joined the financial services industry in 1993 as an advanced marketing consultant before becoming a financial advisor with UBS in 2000. After five years, she departed for a three-year stint at Banc of America Investment Services before joining Schwab in 2009, according to her BrokerCheck profile. She was a branch-based advisor with Schwab.
“For nearly three decades, I have served as a sounding board, trusted guide and professional partner that my clients depend on to make informed financial decisions in a rapidly changing world,” she said.
Raymond James has attracted several advisors and teams since the start of the year, including the Anderson McKelvey Group, also based out of Winter Park, Fla. The team manages about $450 million in assets and joined from Merrill Lynch.
This week, the firm also welcomed a $265 million Pennsylvania-based team from Janney Montgomery Scott, while last week, it enticed a California-based team with $300 million in assets under management to join the firm’s employee advisor channel from UBS. Earlier this month, a Hanover, N.H.-based duo with $350 AUM joined from Morgan Stanley.
Additionally, the firm announced that Chief Financial Officer Paul Shoukry will succeed Paul Reilly as CEO in fiscal year 2025, one of several intra-company moves in a “multi-year succession planning process." By Oct. 1, Scott Curtis, president of the firm’s private client group, will succeed Jeff Dowdle as chief operating officer. Tash Elwyn, who runs the firm’s employee advisor channel, will take over from Curtis.
In addition, it also hired Alex David, former president and CEO of Stifel Financial’s independent contractor b/d, to oversee its Northeast division in its independent advisor channel.