Raymond James Adds $1B RBC Wealth Group

Raymond James says it has added a team formerly with RBC Wealth Management managing $1.1 billion in client assets to its employee channel. Pahnke Wealth Management Group  includes three financial advisors and seven branch professionals and is based near Phoenix. 

Advisors Glenn Pahnke, Ted Churchill and Austin Pahnke have a combined 60 years of industry experience and serve clients such as business owners and high-net-worth individuals and families. 

“The addition of this accomplished team further strengthens our advisor presence across the Western U.S., underscoring our ongoing efforts to attract top-tier professionals across the country who share our core values,” according to Rick Sanchez, West Coast regional director for Raymond James & Associates. 

As of Dec. 31, Raymond James had roughly 3,720 employee advisors and about 4,990 independent advisors. Total assets under administration were $1.4 trillion as of Feb. 29.