A UBS team that managed about $150 million has gone independent with Raymond James, according to the firm.

The newly independent firm, named Great Lakes Wealth, became affiliated with Raymond James Investment Advisors Division, which provides custodial and support services to RIAs.

Great Lakes Wealth is led by managing partners Dewey Steffen and Michael P. Hartman, who serve as CEO and COO respectively. Also moving with the team is Carmela Eastin, director of operations. They are based in Northville, Mich., a suburb of Detroit.

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Biggest breakaways: Where advisers are moving now
The largest teams to go indie this year managed more than $5 billion in client assets.
A UBS team that managed $150 million formed an independent firm. Left to right: COO Michael Hartman, CEO Dewey Steffen, and Director of Operations Carmela Eastin.

Steffen started his financial services career in 1995 at Olde Discount Brokerage, according to FINRA BrokerCheck records. He later joined Smith Barney in 2001 and moved to UBS in 2007.

Hartman began his career at Scottrade in 1998, per BrokerCheck. In addition to UBS, he also later worked as a financial adviser at JP Morgan Chase, according to Raymond James.

A UBS spokesman declined to comment on the departures.

Bill Van Law, president of Raymond James Investment Advisors Division, said in a statement that the firm is "delighted they chose Raymond James to be their full-service custodial partner as they grow their practice."