Core Insights - Raymond James has successfully recruited a team from Bank of America's Merrill Lynch, managing $1 billion in client assets [1][2] Group 1: Recruitment and Team Details - The advisory team consists of four financial advisors and two client service associates, joining the Thrift Private Wealth of Raymond James in Easton, Md [2] - Key members include Garrett Thrift, managing director and private wealth advisor, who has 15 years of experience at Merrill [2][3] - Other team members include financial planning consultant Kara Burt (8 years at Merrill) and advisors Blake Saulsbury and Wade Oursler (3 years at Merrill) [3] Group 2: Company Performance and Strategy - Raymond James reported strong recruiting results for its fiscal first quarter ending December 31, adding advisors with approximately $13 billion in client assets [5] - The firm increased its spending on recruiting and retention-related compensation by 22% to $107 million during the quarter [5] - The decision to join Raymond James was influenced by the firm's private wealth resources and direct access to senior leadership [4] Group 3: Industry Context - According to Wolfe Research, Raymond James ranked just behind LPL Financial in total net advisor gains for 2025, while Bank of America was the largest net loser of advisors [6] - Bank of America reported historic lows in advisor attrition and strong revenue growth in its wealth management divisions [7] Group 4: Services Offered - Thrift Private Wealth will provide various services, including alternative investing, banking and lending, and estate, charitable giving, and trust services [8]

Core Insights - Financial Gravity Companies, Inc. has secured a credit facility with Prospeq to support its long-term growth strategy focused on advisor acquisition and transition financing [1][2][3] Group 1: Company Overview - Financial Gravity is a leading provider of family office services and financial solutions, offering a comprehensive suite of tax, estate, asset, risk, and investment management services [4] - The company serves independent financial advisors and their clients, aiming to help advisors scale and serve affluent families [4] Group 2: Strategic Initiatives - The newly acquired credit facility is intended to expand Financial Gravity's advisor network and streamline the onboarding process for new advisor partners [2] - The CEO of Financial Gravity emphasized that this capital will support advisors during their transition and align with the company's commitment to helping them grow their practices [3]