United Capital Financial Advisers has added to its stable, rolling up Payne Wealth Partners of Evansville, Indiana, which has $530 million in assets under management and 13 employees.
Taylor Payne, the president of the firm, and a financial planner for around 300 high-net-worth clients, will become a managing director of United.
He founded Payne Wealth Partners in 1989 as a fee-only investment manager.
United Capital had 200 advisors and 76 offices as of September 30, 2017. It has approximately $20.7 billion in assets under management.
RayJay recruits from Morgan, Merrill
Raymond James, meanwhile, has announced the addition of advisors from Morgan Stanley and Merrill Lynch.
It has recruited the father/daughter advisory team of John DeRosa and Deanna DeRosa from Morgan Stanley. They joined the firm's Newport Beach, California office.
The DeRosa Group managed approximately $180 million in client assets while with Morgan Stanley.
Raymond James has also nabbed an advisor from Merrill Lynch. Linda Fulgenzi, who spent nine years at Merrill, joined Raymond James at its Honolulu office on November 28, 2017 and is also working out of the new office in Tucson, Arizona.
At Merrill, Fulgenzi managed $113 million in client assets and more than $1 million in annual production.
Raymond James also recruited Glen D. Smith & Associates, with $262 million in client assets, from Merrill, effective December 8, 2017.