The Gables Legacy Group, comprised of advisors Vann Ashley Wilder and Van Martin and their associate Maria Wilder, has left Morgan Stanley Smith Barney to practice under the Raymond James name in South Florida.
According to Raymond James' South Florida complex manager Frank Amigo, the team represents the sixth round of new hires in the complex in the last year, and recruitment is expected to continue.
"In South Florida, it's an incredible market and there are tremendous opportunities to expand and continue to expand. We opened up a new Miami Beach satellite about a year ago that's almost full. I have one open spot. We will expand within the city, within existing offices, and we will expand and open up new satellites when it's appropriate," Amigo said in a phone interview.
The team managed $300 million in client assets and produced revenues in excess of $1 million. Having always practiced in the area, Raymond James hopes that they will be able to utilize their deep roots within the Coral Gables community to help grow their business.
A "lifer" according to Amigo, Vann Wilder has 38 years of industry experience and worked at Reynolds before joining Smith Barney in 1981. He joins as senior vice president, investments.
Martin has a decade of industry experience and will assume the roles of wealth management specialist and advisor. He began his career at PFS Investments before joining Morgan Stanley Smith Barney in 2009.
Maria Wilder, who is married to Vann Wilder, has over twenty years of experience in the financial services industry and will help manage the team.
According to Amigo, the team had become frustrated at Morgan Stanley Smith Barney and was looking for a change.
"I think it's two-fold. Number one, they were very frustrated at Morgan Stanley, and their clients were starting to become frustrated. And they wanted a place where they had the flexibility to run the business the way that they wanted to and that they felt comfortable taking care of their clients," Amigo said.
Mason Braswell writes for On Wall Street.