Raymond James announced on Thursday that it added Financial Strategies Retirement Partners (FRSP), a team of 12 financial advisors in Bedford, New Hampshire, to Raymond James Financial Services (RJFS), the firm’s independent advisor channel.
FSRP was previously with Commonwealth Financial Network, where the team oversaw $2.8 billion in client assets, including $1 billion in private wealth assets under management (AUM) and an additional $1.8 billion in employer-sponsored retirement plan assets under advisement (AUA), Raymond James said.
The advisor team will continue to operate as Financial Strategies Retirement Partners.
FSRP is led by Shawn Monty, its CEO, Co-Founder and Managing Partner, and Partners Al Gilbert, Co-Founder, and Sarah Kenda.
The 24-person FSRP team also includes an additional 12 branch service professionals. They provide financial planning to business owners and families, along with fiduciary guidance to employer sponsored retirement plans, Raymond James said.
“Joining Raymond James marks an exciting new chapter for our team and the clients we serve,” Monty said in a news release. “We were looking for a partner that supports independence, innovation and long-term growth while enabling us to continue delivering the personalized guidance our clients expect.”
Monty added, “Raymond James empowers us with the platform and resources to build on the foundation we’ve created over the past three decades.”
Monty started his financial services career in 1985 and joins RJFS after 31 years at Commonwealth, Raymond James said.
Gilbert has over 30 years of experience in financial services and co-founded FSRP with Monty in 2007.
Kenda joined FSRP in 2018 as a Partner and has 25 years of financial services industry experience, according to Raymond James.
Total client assets at Raymond James were about $1.87 trillion as of April 30, the firm said.
Jeff Berman, Contributing Editor and Reporter at Wealth Solutions Report, can be reached at jeff.berman@wealthsolutionsreport.com.
