Two Raymond James Financial teams managing $824 million combined left this week for &Partners and regional broker-dealer Janney Montgomery Scott, according to announcements on Wednesday.<\/p>\n
In the larger move, a five-person team in Washington state joined &Partners from Raymond James Financial Services, the firm\u2019s independent contractor division, on Tuesday. The Fisette & Kim Financial Services team, which managed $524 million in assets, is led by Hyon Yong \u201cEthan\u201d Kim and Scott W. Milam.<\/p>\n
The duo had joined Raymond James in 2020 from Key Bank and since added advisors Brady Jowell and Matthew J. Zager to their practice.<\/p>\n
Although advisors join &Partners as employees, it has attracted several groups from independent broker-dealers with a quasi-independent model that offers equity and higher payouts than traditional employee firms while requiring advisors to shoulder more operating expenses.\u00a0<\/p>\n
The Fisette & Kim team said on its website it was lured by the \u201cadvisor-owned\u201d model as well as promises of greater support, including \u201cno call centers, no bureaucracy.\u201d They will custody with Fidelity Investments.\u00a0<\/p>\n
&Partners, founded in 2023, has grown to 117 practices overseeing $58 billion in assets, according to a spokesperson.\u00a0<\/p>\n
Separately, a duo previously registered with Raymond James\u2019 employee channel joined Janney Montgomery Scott in Miami. The Ginsburg Private Wealth team, which managed $300 million in assets, is led by Keith Ginsburg and includes support staff Karla Avecillas.\u00a0<\/p>\n
Prior to joining Raymond James in 2007, Ginsburg spent almost four years as a financial planner for T. Rowe Price and worked at Signator Investors, according to registration records.<\/p>\n
Janney, which is owned by KKR, has recruited at least three teams in 2026 that were overseeing almost $2.4 billion in combined assets at Wells<\/a>, UBS<\/a> and Merrill<\/a>.<\/p>\n Raymond James since May has lost two teams to Concurrent Investment Advisors, one managing $750 million<\/a> and another with $1.2 billion<\/a>. In June, the firm landed a $1.2 billion team<\/a> from RBC\u2019s City National Bank in California.\u00a0<\/p>\n