Raymond James has recruited a three-advisor team from Davenport, Iowa, to its employee advisor channel. The three advisors, James Wendling, Steven VanDerSchaaf and Clint Allaman, are coming from Morgan Stanley, where they managed $315 million in assets, according to Raymond James.
Together, they will operate as the Wendling VanDerSchaaf Allaman Group of Raymond James, according to a company press release, and serve the Quad Cities area of Iowa and Illinois.
James Wendling is a 35-year veteran of Morgan Stanley and its predecessor firms, which included E.F. Hutton and Lehman Brothers,said Raymond James. He started his career with Merrill Lynch in 1982, according to BrokerCheck.
Steven VanDerSchaaf has been with Morgan Stanley for 20 years, according to his LinkedIn page.
Allaman had been with Morgan Stanley since 2012,
According to its Form 10-Q for the second quarter, Raymond James had 3,423 advisors in its employee channel as of June 30, an increase from 3,379 on June 30, 2020.
Raymond James & Associates, based in St. Petersburg, Fla., is a wholly owned subsidiary of Raymond James Financial Inc., which has approximately 8,400 financial advisors throughout the United States, Canada and overseas. Its total client assets are $1.21 trillion, the company said.