Raymond James adds $1.2B Truist advisor duo in Richmond

Samuel Mintz and Stephen Gow, who managed more than $1.2 billion in client assets at Truist Investment Services, joined Raymond James & Associates in Richmond, Va., in September; the firm announced the move Nov. 4.

The pair launched the Mintz & Gow Group of Raymond James and were joined by client service associates Cheryl Franz and Donna Minkeson-Shaw. Both advisors are managing directors, and the practice serves families, business owners and nonprofit organizations with financial planning and investment guidance, according to Raymond James. Courtland Williams, Mid-Atlantic regional director for RJA, confirmed the move to InvestmentNews.

For advisors weighing the same step, the two firms' move data point in opposite directions. Moves Wire records eight RJA moves in the past 12 months, seven of them arrivals, and four at Truist Investment Services, all departures. RJA is Raymond James's employee advisor channel, which means the platform, technology and private wealth resources sit with the firm while the practice keeps its own support staff.

The practice pairs two different backgrounds. Mintz has more than 24 years in the business. Gow became an advisor in 2014 after 12 years overseeing options, retail over-the-counter trading and exchange-traded fund departments at BB&T Scott & Stringfellow, now part of Truist Investment Services, according to Raymond James. "Our work starts with understanding what each client wants to accomplish and building our approach around those priorities," Mintz said.

Raymond James has been touting its recruiting after reporting record quarterly results last month, Financial Advisor Magazine reported. InvestmentNews reported the firm ended its fiscal year with a record 8,943 advisors, up 2% from a year earlier. A three-person Truist team with $700 million in client assets, the Longwater Haffey Group, made the same move Oct. 30, as Private Wealth Daily previously reported.