Raymond James, Wells Fargo Grab Teams From Rivals

Securities America, part of Ladenburg Thalmann (LTS), says that advisors Jonathan Lifschutz and David Reed have affiliated with its operations after leaving Morgan Stanley.

Lifschutz and Reed, who together managed $75 million in client assets, joined the United Advisors Private Client Group Great Neck office in New York, just two days after the location opened.

According to Securities America, the pair will be using the hybrid independent wealth advisory business model Securities America developed in a partnership with United Advisors, a privately owned financial services company.

"We are excited to have Jonathan and David as the first two advisors to join our new support model for wirehouse brokers," said Mark Penske, chairman of United Advisors, in a press release.

"Most advisors who leave a wirehouse go to another wirehouse because few independent-broker dealers understand what they need," Penske explained. "Our partnership with Securities America gives Jonathan and David an independent hybrid option with the turnkey office space, staff and support they are comfortable with. We expect more breakaway advisors to find our model appealing."

Stratos Wealth

Callen Schramm and Heather Schramm, financial advisors in Baton Rouge, recently left Merrill Lynch to affiliate with Stratos Wealth Partners, an independent, hybrid RIA firm that trades securities via LPL Financial (LPLA).

Previously affiliated with Merrill Lynch, the husband-and-wife team do business as Schramm Financial Group, which should maintain about $155 million of client assets in the transition.

Callen and Heather have more than 35 years of combined experience in the financial services industry and specialize in retirement planning and 401(k) rollovers for their clients — most of whom work in the petrochemical industry, according to Securities America.

The couple is actively involved in the Baton Rouge community, and both are graduates of Louisiana State University, where they received degrees in finance.

Stratos Wealth Partners has added more than 40 advisors to its network in the past year. It has more than $1.05 billion in client assets under management in advisory accounts and an additional $5.1 billion in brokerage assets held in accounts with LPL Financial.