Raymond James lured away a Merrill Lynch team generating over $2 million in annual revenue for its employee channel, the firm said.

The three-member group managed about $400 million in client assets at the wirehouse before moving to the regional firm. They will operate as Heritage Wealth Management of Raymond James.

Heading the group is David Holwadel, a 17-year veteran. He joins the Cincinnati office of Raymond James along with team members Jeffrey Thompson, an associate financial advisor and Yvette Bush, a registered client service associate.

“After spending so many years with Merrill, as Dave’s father did before him, it’s a coup to have landed such an experienced and qualified team with a reputation for putting their clients first,” said John Ryan, greater Cincinnati complex manager.

Holwadel, joined his father, Kent Holwadel, at Merrill Lynch in 1998. He worked in the cable TV business prior to joining the wirehouse.

Thompson, a fairly new member of the industry began his career a year ago, according to FINRA BrokerCheck records. He will enter the Advisor Mastery Program for financial advisors, which offers comprehensive education for new recruits, according to the firm.

Bush, a 33-year veteran in the industry, worked with the Holwadels at Merrill Lynch, where she also administered client associate training for the firm.

 

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