Raymond James hires $680 million team from UBS

Raymond James said a team of four advisors managing $680 million in client assets is joining UBS Financial Services’ independent advisory channel Raymond James Financial Services.

Cynthia Locala, Robert Krenz, Mark Ruby and Dominic Ruby are Momentum Wealth Partners in Akron, Ohio. In the move to Raymond James, they were joined by three employees.

“From an operational standpoint, Raymond James has an impressive track record of transitioning consultants to an independent model where we can structure our business and work with our clients as we see fit,” Locala said in a statement.

Locala founded Oakwood Financial Group, the predecessor of Momentum Wealth Partners, in 1988. According to her BrokerCheck report, she has been with UBS since 2012 and worked at Merrill Lynch from 2003 to 2012.

According to BrokerCheck, Krenz has 33 years of experience; he joined UBS in 2007 after an eight-year stint at McDonald Investments. Mark Ruby joined Merrill Lynch in 2006 and joined UBS in 2012, while Dominic Ruby joined Merrill in 2010 before moving to UBS in 2012.

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