Raymond James Hires $240 Million Advisor Team

By Amit Chowdhry ● November 6, 2019
  • Raymond James announced it hired $240 million AUM team Kevin Bannister, Mark Raney, Nevin Cavanaugh, and Hobie Bannister for Raymond James & Associates

Raymond James announced it has brought on Kevin Bannister, Mark Raney, Nevin Cavanaugh, and Hobie Bannister for Raymond James & Associates (RJA) — which is the advisor broker/dealer arm of the company based in Des Moines, Iowa. This announcement was made by John Kuklenski, Northern Division Director at Raymond James.

These advisors are joining RJA from RBC Wealth Management where they previously managed $240 million in client assets. And senior registered client service associate Aimee Holmes is also joining the team. Going forward, the team operates will operate as the Bannister, Raney, Cavanaugh (BRC) Wealth Group of Raymond James.

“After our extensive due diligence process, we realized that the emphasis on the client-advisor relationship at Raymond James is unlike any other,” said Cavanaugh. “The firm really values putting the clients first while also giving the advisors the support and tools to guide that relationship.”

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Cavanaugh has been a financial professional for 20 years and he started his career at Merrill Lynch followed by UBS Financial Services. Cavanaugh has a Bachelor of Arts from Wartburg College.

“As we conducted our research while searching for firms, we determined that Raymond James has the strongest technology offerings, especially in terms of financial planning and goal planning and monitoring for our clients,” added Bannister. “The technological focus and investment in these capabilities coupled with the strong advisor-client relationship were a huge part of our decision to make the switch.”

Bannister worked in the industry for 23 years. He is a graduate of the University of Iowa and has a Bachelor of Arts in finance and a minor in economics with an emphasis on accounting. Plus he is involved with a number of organizations like the Leukemia & Lymphoma Society, the Variety Club of Iowa, the American Red Cross, United Way of Iowa and the Boy Scouts of Iowa.

“The opportunities for our clients are extensive with Raymond James,” explained Raney. “With the new capabilities we have using Raymond James technology for financial planning and research, we can adhere to the client-first culture at the firm by providing them excellent opportunities in wealth management.”

Raney worked in the financial services industry for 28 years at UBS Financial Services and later RBC Wealth Management. Raney graduated from South Dakota State University where he received a Bachelor of Science in business. Plus Raney received a Master of Business Administration from Iowa State University.

“After my time in the industry, I have witnessed many different cultures but Raymond James felt the most comfortable to our team,” commented Bannister. “Joining the firm was almost like coming home, as we were able to find a culture that aligns with ours while supporting our practice. The firm prides itself on taking care of the advisor while also allowing the advisor the flexibility and independence to decide what is best for their clients.”

Hobie has 45 years of experience in wealth management. Hobie graduated from Parsons College where he holds a bachelor’s degree in business administration.

Holmes had joined BRC in 1999. And she holds the Series 7 and 66 licenses. Plus Holmes provides informed assistance with client orders.

“BRC Wealth Group is an excellent addition to the firm,” noted Kuklenski. “We are excited to support them and pleased that they found the culture, support and technology offerings at the firm best for their team and clients as they grow their practice.”