Raymond James, Ameriprise and Cetera Add Teams With More Than $2.1 Billion in Client Assets

Three advisor moves have brought more than $2.1 billion in client assets and assets under administration to Raymond James, Ameriprise Financial and Cetera Financial Group. The hires span a Washington, D.C., team managing more than $1.5 billion, an Ameriprise advisor returning to the firm with $193 million, and a nine-member team joining Cetera with approximately $450 million in assets under administration.

The moves show how recruiting decisions can turn on the practical details of running an established advisory business: planning resources, technology, staffing and control over how client service is delivered. Each team serves a different mix of clients, and the firms’ reported asset figures use different measures, so the totals describe the scale of these additions rather than a directly comparable measure of assets.

Raymond James adds a Washington team

Raymond James & Associates, the firm’s employee advisor channel, has recruited Kenneth “Ken” Killfoil, CFP, CIMA; Kathleen “K.C.” Koch, CFP; and Kris Morin, JD, LL.M. The Washington, D.C., team joins from PNC Private Bank, where it managed over $1.5 billion in client assets. It operates as KKM Wealth Partners within Alex. Brown, with Registered Client Service Associate Mallory Schmidt also joining.

The practice works with high-net-worth individuals, multigenerational families, corporate executives, foundations, endowments, nonprofits and business owners. Its breadth of clients puts planning and service capacity at the center of the move. Killfoil said Raymond James offers resources, technology and a range of capabilities for clients with differing needs, while allowing the team to retain its personalized approach.

Killfoil has more than 20 years of experience in financial planning and investment management, including 13 years at PNC. He holds a master’s degree in business from Georgetown University. Koch, a managing director, spent 10 years at PNC and holds a master’s degree in education from Johns Hopkins University. Morin, also a managing director, practiced trusts and estates law before entering financial services in 2022. He holds a Juris Doctor and a Master of Laws in taxation from Villanova University.

Tony Barrett, North Atlantic regional director for Raymond James & Associates, confirmed the hire. Chesapeake complex manager Steve Pryor said the firm’s platform and services appeal to growing teams seeking to serve clients. The move adds to a busy stretch for the firm: Raymond James recently said a $700 million advisor team had joined, with another team of that size arriving earlier. The sequence points to continued recruiting activity, though the individual team announcements don’t establish how much of that business will remain with each firm over time.

Ameriprise gains a returning advisor

Ricardo Baptiste, CFP, has returned to Ameriprise Financial in Plantation, Florida, after six years at Raymond James. He spent 23 years at Ameriprise before leaving in 2020. His Wealth Investment Group practice brings $193 million in client assets to the firm’s independent channel. Financial Planning Assistant Zachary Rosen and Client Service Specialist Josie Felix join him. Local support comes from Franchise Field Vice President Sabrina Sabate and Regional Vice President Michael Barker.

Baptiste said his time away clarified what he wanted in a long-term firm relationship. He pointed to comprehensive financial planning, independence, advisor success and the client experience as priorities. He also cited Ameriprise’s planning capabilities, technology and advisor-focused leadership in explaining his return.

Ameriprise says approximately 1,700 experienced advisors have joined its platform over the last five years. Sabate framed Baptiste’s return as evidence of the firm’s appeal to established advisors, highlighting its planning capabilities and support for advisor growth. The firm’s recruiting figure and Baptiste’s move offer two different views of that appeal: one measures arrivals over time, while the other reflects a specific advisor’s decision after experience at another firm.

The return comes amid broader questions about how firms support and retain advisors. Ameriprise CEO Jim Cracchiolo said last week that the company had not created a broad bonus pool or plan to retain its 10,000 advisors, contrary to earlier industry reports and analysis. That context makes Baptiste’s stated reasons for returning particularly relevant: his comments focus on planning, technology and leadership, rather than a retention payment.

Cetera recruits a nine-member practice

Cetera Financial Group has added Primacy Financial, a nine-member wealth management team led by Founding Partner Ryan P. O’Connor, CFP, in the Buffalo, New York, area. The team joins from Northwestern Mutual and oversees approximately $450 million in assets under administration. It enters through Cetera Financial Specialists, aligning with the independent office Patriot Financial Group.

O’Connor is joined by Founding Partner Christopher J. Williams, CFP; Principal Owner Tony Blasting, CFP; and Partner and Chief Operating Officer Deanna M. McCarthy. Sean Thompson, CFA, serves as chief investment officer. Five other specialists cover client service, employer and participant operations, insurance and wealth management advisory work.

Primacy primarily serves business owners, physicians and other medical professionals, as well as people approaching or living in retirement. Its work includes business succession planning, tax-efficient investing and multigenerational wealth transfer. O’Connor said the team chose Cetera because of its focus on advisor growth and its willingness to trust advisors’ decisions about managing their businesses. He also said the move gives the practice more flexibility to retain a larger-than-typical support staff.

As of June 30, 2026, Cetera firms reported approximately $688 billion in assets under administration and $330 billion in assets under management, according to the company. Those figures provide scale for the network the team is joining, while Primacy’s own $450 million figure is reported on an administration basis. Cetera Tax Channel Leader Andy Watts said the practice’s client-first structure and range of specialties stood out. CEO Mike Durbin has said recruiting is strong but expensive, a cost that matters as firms compete for established teams.

Across these moves, the draw is not identical: Raymond James recruited a large private-bank team, Ameriprise regained a veteran advisor, and Cetera added a staffed practice with specialized planning capabilities. Recent recruiting coverage reflects the broader pattern of experienced teams weighing independence, growth resources and the support needed to serve existing clients. The next test is whether each platform’s promised capabilities fit the team’s day-to-day needs after the transition.