Raymond James Financial Institutions Division (FID) has added the 27-member team of Tennessee-based FirstBank’s investment program, according to a company announcement.
The 17 advisors, eight support associates and two program managers, previously affiliated with LPL Financial, will offer investment and wealth management services to their clients through St. Petersburg, Fla.-based Raymond James Financial Services.
The FirstBank advisors and professionals will join their colleagues at Franklin Synergy in partnering with Raymond James as a result of the merger completion in August between FB Financial Corporation, the parent company of FirstBank, and Franklin Financial Network Inc., the parent company of Franklin Synergy Bank. The release noted that Franklin Synergy Bank has been aligned with Raymond James FID since 2004.
The combined investment program, which is headed by Tripp Thompson, president of FirstBank Investment Partners, includes 22 advisors, 10 support staff and a branch manager, managing a combined $1.2 billion in client assets, the release said.
“We are excited to continue our valuable partnership with the advisors and professionals from Franklin Synergy Bank, and to begin our new alignment with the team at FirstBank, as the two programs build their new legacy together as FirstBank Investment Partners,” Tim Killgoar, senior vice president and FID national director, said in a statement. “We are proud they found Raymond James’ sophisticated technology and high-touch support to best fit their needs, and that they chose Raymond James FID as the optimal partner in delivering wealth management services to clients.”
The Financial Institutions Division was established by Raymond James in 1987 to provide banks and credit unions with an alternative to traditional third-party investment providers.