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Financial Advisory  + Wealth Management  |  October 30, 2023
Raymond James Lands $3B Cetera Team
Joe Palmisano
By: Joe Palmisano

Raymond James Lands $3B Cetera Team

The Financial Institutions Division (FID) of Raymond James has brought on Columbia Wealth Advisors (CWA), a 50-person team at Umpqua Bank in Lake Oswego, OR that manages $3 billion in client assets.

CWA, formerly affiliated with Cetera Investment Services, will offer investment and wealth management services to its individual and business clients through Raymond James Financial Services.

The team includes 27 advisors, a legacy and risk consultant and a wealth planning manager.

“We needed a client-focused partner with the technical skills and resources available so we could be confident that neither the team nor our clients’ needs would ever outgrow the relationship,” said Stephen Poole, SVP and managing director of CWA.

Umpqua Bank has offices throughout Arizona, California, Colorado, Idaho, Nevada, Oregon, Utah and Washington.

Raymond James established the Financial Institutions Division in 1987 to provide banks and credit unions with an alternative to traditional third-party investment providers.

In September, FID added a $304 million bank program formerly affiliated with Commonwealth Financial Network.

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Raymond James Financial Services

About Joe Palmisano

Joe Palmisano is editorial director of Connect Money, where he oversees daily coverage of alternative assets, direct investments, financial advisory and the economy. He brings three decades of experience as a financial journalist, analyst and portfolio manager. Before joining Connect Money, Palmisano wrote for The Wall Street Journal, covering foreign exchange, global fixed-income and equity markets. He later served as a senior research analyst and portfolio manager, producing market analysis and managing foreign exchange and U.S. equity portfolios for FX Concepts. His work has also appeared in SFO Magazine and CMT Association publications. Palmisano earned a bachelor’s degree in finance from The American University and holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.
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