Wells Fargo team with $350 million moves to Raymond James
A wealth management team has left Wells Fargo Advisors to go independent.
Keybridge Wealth Management, a Clearwater, Florida-based firm with $350 million of assets under management, is joining Raymond James Financial Services, the broker-dealer’s business for independent advisors. The team includes financial advisors Sydney Niewierski, Robert Chiavacci and John Odom.
In a statement, Niewierski, who is also a managing partner at Keybridge, said Raymond James will let Keybridge better serve its clients. In addition to Wells Fargo, the 22-year industry veteran has also worked at A.G. Edwards, according to BrokerCheck.
“We will have the complete freedom to advise clients how we see fit, knowing that our firm backs us in making recommendations based solely on what’s best for each client’s unique situation and objectives,” Niewierski said.
Chiavacci, a managing partner with 35 years of experience across Wells Fargo and A.G. Edwards, also cited Raymond James’s array of investments and equity research as reasons for the move.
“We’ve gained direct access to professionals in various financial disciplines, giving us the tools to continue serving clients well for generations to come,” Chiavacci said in a statement.
Neither Keybridge nor Raymond James responded to a request for additional comment.
Wells Fargo Advisors received the lowest satisfaction scores from employee advisors in J.D. Power’s latest survey (Wells Fargo Advisors Financial Network also received the lowest satisfaction scores amongst independent advisors). A key driver of dissatisfaction was advisors feeling as if they don’t spend enough time with clients because they’re bogged down with compliance and administrative tasks.
Wells Fargo declined to comment.
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