Raymond James today announced that its Financial Institutions Division (FID) has added Columbia Wealth Advisors, a 50-member team at Umpqua Bank in Lake Oswego, Ore., that manages $3 billion in client assets.

Columbia Wealth Advisors (CWA), which was previously affiliated with Cetera Investment Services, will offer its individual and business clients investment and wealth management services through Raymond James Financial Services the release said. The team includes 27 advisors, a legacy and risk consultant and a wealth planning manager.

“We needed a client-focused partner with the technical skills and resources available so we could be confident that neither the team nor our clients' needs would ever outgrow the relationship," Stephen Poole, senior vice president and managing director of CWA, said in a statement. “Thinking very long term for both our clients and the team, for Columbia Wealth Advisors, there was a clear front runner in Raymond James, and I personally cannot wait for our team and our clients to see the benefits of this new partnership."

Stephen Kruchten, senior vice president and FID national director, said, “Entering this new relationship, it was abundantly clear the profound respect that Columbia Wealth Advisors and Umpqua Bank have for exceptional client service. We're confident they and their clients stand to benefit from Raymond James' comprehensive investment platform, cutting-edge technology and unwavering commitment to the client-advisor relationship."

Umpqua Bank has offices throughout Arizona, California, Colorado, Idaho, Nevada, Oregon, Utah and Washington. It has $50 billion in assets.

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.