Wells Fargo loses $375M team to Raymond James

Preston Covington III and team expand firm's coverage to Columbia, S.C.

Feb 27, 2017 @ 1:32 pm

By arjuna-design

Preston Covington III and team have joined Raymond James & Associates, the firm's traditional employee broker/dealer, from Wells Fargo Advisors.

The team, known as the Covington Financial Group, managed approximately $375 million in client assets and had annual fees and commissions of more than $2.4 million at Wells Fargo, Raymond James said in a release.

The team's office is the firm's sole employee-broker-dealer branch in Columbia, S.C.

In addition to Mr. Covington, who spent more than 20 years at Wells Fargo and its predecessor firms, the team consists of Amanda Simconis, a senior investment portfolio analyst, and Lindsey Sisk, a registered client service associate.


What do you think?

View comments

Recommended for you

Sponsored financial news

Integration can mean of different things to advisers. What does it mean to you? Marc Butler of Albridge Solutions explains how it is powering advisory practices.

Video Spotlight

Recommended Video


Latest news & opinion

Despite January's run-up in stocks, investors headed to bonds

More than $46 billion went to taxable bonds last month, versus $17 billion flowing into stock funds and ETFs.

Alternative funds suddenly look a whole lot better

The market sell-off highlights the virtues of hedging.

Olympics advice from financial advisers who are Olympians themselves

Meet some of the Olympians among U.S. financial advisers, and hear their words of wisdom for those vying for the gold in PyeongChang, South Korea.

Why the new tax law amounts to a 'stealth' tax increase

The government will use an inflation measure that causes things like marginal income tax rates to rise more slowly.

Exchange-traded notes add another layer of risk

ETNs tied to volatility took a beating when stocks plunged.


Hi! Glad you're here and we hope you like all the great work we do here at arjuna-design. But what we do is expensive and is funded in part by our sponsors. So won't you show our sponsors a little love by whitelisting arjuna-design.com? It'll help us continue to serve you.

Yes, show me how to whitelist arjuna-design.com

Ad blocker detected. Please whitelist us or give premium a try.


Subscribe and Save 60%

Last News

how to calculate lump sum pension ss benefits for ex spouse annuity lump sum payment blackrock income funds renting a house tax implications ferrari 288 gto 1984 merrill lynch retirement plans best vanguard index funds 2015 investing lump sum for monthly income homestead mutual funds hud housing loans lump sum buyout low cost bond index funds deborah howard merrill lynch wealth management fidelity money market trust retirement money market portfolio prudential stable value fund ticker symbol social security survivor benefits for spouse social security divorced spouse survivor benefits baby boomers gen x gen y millennials franklin gold and precious metals fund best mutual funds to invest in 2014 american beacon large cap value fund t rowe price science & technology fund irs social security disability income taxable vanguard target retirement 2035 trust ii what is the beta of the s&p 500 how to calculate minimum withdrawal from ira great west loomis sayles bond fund i highest priced baseball card social security earnings record t rowe price bond funds t rowe price ceo college savings plans mn best mutual funds 2015 aon hewitt investment consulting are brokered cds fdic insured financial advisor magazine ce are dfa funds worth it