Raymond James adds 16 advisors from Greenberg & Rapp, enhancing its independent advisor channel and client services.
Quiver AI Summary
Raymond James Financial Services has announced the addition of a 16-member team of financial advisors from Greenberg & Rapp, including its subsidiary Eagle Rock Wealth Management. Led by founders Thomas C. Rapp and Ronald J. Greenberg, along with Managing Partner Patrick Maguire, the team brings a wealth of experience, having previously managed around $1.8 billion in client assets at M Financial Group. They specialize in providing sophisticated wealth management and estate planning services for ultra-high-net-worth families, focusing on private placement life insurance and investment strategies that mitigate taxes. The founders highlighted the cutting-edge technology and support at Raymond James as key factors in their decision to join the firm, noting their commitment to maintaining a culture of service and independence for their clients.
Potential Positives
- Raymond James welcomed a high-profile team of 16 financial advisors, expanding its independent advisor channel significantly.
- The new team collectively managed approximately $1.8 billion in client assets, enhancing Raymond James's asset management capabilities.
- Greenberg & Rapp specializes in sophisticated wealth management strategies, which can attract ultra-high-net-worth clients and diversify Raymond James's service offerings.
- The team expressed confidence in Raymond James's technology and support, indicating a strong alignment that may lead to growth and improved client service.
Potential Negatives
- The press release highlights the departure of a significant team of advisors from M Financial Group, indicating potential challenges in retaining key talent within the company.
- The team managed approximately $1.8 billion in client assets prior to their departure, suggesting a substantial potential loss of revenue and client relationships for M Financial Group.
- The focus on ultra-high-net-worth individuals may imply that Raymond James is heavily dependent on a niche market, which could pose risks if this segment experiences economic downturns or changes in demand.
FAQ
What recent team joined Raymond James Financial Services?
A team of 16 financial advisors from Greenberg & Rapp has joined Raymond James Financial Services.
Where are Greenberg & Rapp's offices located?
Greenberg & Rapp has offices in Morristown, New Jersey, and West Palm Beach, Florida.
What assets were managed by the team before joining Raymond James?
The team previously managed approximately $1.8 billion in client assets at M Financial Group.
What services does Greenberg & Rapp specialize in?
Greenberg & Rapp specializes in private placement life insurance, estate planning, and sophisticated wealth management strategies.
Who leads Greenberg & Rapp's new team at Raymond James?
The team is led by Founders Thomas C. Rapp and Ronald J. Greenberg, along with Managing Partner Patrick Maguire.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$RJF Congressional Stock Trading
Members of Congress have traded $RJF stock 1 times in the past 6 months. Of those trades, 0 have been purchases and 1 have been sales.
Here’s a breakdown of recent trading of $RJF stock by members of Congress over the last 6 months:
- REPRESENTATIVE JULIE JOHNSON sold up to $15,000 on 04/07.
To track congressional stock trading, check out Quiver Quantitative's congressional trading dashboard.
$RJF Insider Trading Activity
$RJF insiders have traded $RJF stock on the open market 2 times in the past 6 months. Of those trades, 0 have been purchases and 2 have been sales.
Here’s a breakdown of recent trading of $RJF stock by insiders over the last 6 months:
- BELLA LOYKHTER ALLAIRE (Chief Admin Officer) sold 6,570 shares for an estimated $963,227
- JAMES E BUNN (President, Capital Markets) sold 3,650 shares for an estimated $498,183
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$RJF Hedge Fund Activity
We have seen 404 institutional investors add shares of $RJF stock to their portfolio, and 428 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- JPMORGAN CHASE & CO added 1,651,380 shares (+41.6%) to their portfolio in Q2 2025, for an estimated $253,272,150
- AGF MANAGEMENT LTD removed 1,621,549 shares (-100.0%) from their portfolio in Q2 2025, for an estimated $248,696,970
- VICTORY CAPITAL MANAGEMENT INC added 956,234 shares (+50.8%) to their portfolio in Q2 2025, for an estimated $146,657,608
- INVESCO LTD. removed 760,263 shares (-26.2%) from their portfolio in Q2 2025, for an estimated $116,601,536
- FIRST TRUST ADVISORS LP added 709,315 shares (+39.9%) to their portfolio in Q2 2025, for an estimated $108,787,641
- GAMMA INVESTING LLC removed 669,485 shares (-99.2%) from their portfolio in Q2 2025, for an estimated $102,678,914
- FMR LLC removed 664,032 shares (-10.2%) from their portfolio in Q1 2025, for an estimated $92,240,685
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
$RJF Analyst Ratings
Wall Street analysts have issued reports on $RJF in the last several months. We have seen 2 firms issue buy ratings on the stock, and 0 firms issue sell ratings.
Here are some recent analyst ratings:
- JMP Securities issued a "Market Outperform" rating on 04/24/2025
- Goldman Sachs issued a "Buy" rating on 04/03/2025
To track analyst ratings and price targets for $RJF, check out Quiver Quantitative's $RJF forecast page.
$RJF Price Targets
Multiple analysts have issued price targets for $RJF recently. We have seen 8 analysts offer price targets for $RJF in the last 6 months, with a median target of $172.5.
Here are some recent targets:
- Michael Cho from JP Morgan set a target price of $172.0 on 07/24/2025
- Kyle Voigt from Keefe, Bruyette & Woods set a target price of $170.0 on 07/24/2025
- Michael Cyprys from Morgan Stanley set a target price of $180.0 on 07/15/2025
- Brian Fitzgerald from JMP Securities set a target price of $180.0 on 07/14/2025
- Michael Brown from Wells Fargo set a target price of $163.0 on 07/11/2025
- Christopher Allen from Citigroup set a target price of $165.0 on 07/07/2025
- Alexander Blostein from Goldman Sachs set a target price of $173.0 on 04/03/2025
Full Release
St. Petersburg, Fla., Aug. 14, 2025 (GLOBE NEWSWIRE) -- Raymond James recently welcomed a team of 16 financial advisors to Raymond James Financial Services (RJFS) – the firm’s independent advisor channel – according to Alex David, Northeast division director for RJFS.
With offices in Morristown, New Jersey and West Palm Beach, Florida, Greenberg & Rapp and its Eagle Rock Wealth Management subsidiary are led by Founders and Principals Thomas C. Rapp, CLU ® , ChFC ® , AEP ® and Ronald J. Greenberg, CLU ® , AEP ® and Managing Partner Patrick Maguire. They are joined by 14 senior financial professionals:
- JP Bartolomeo, financial advisor
- T. Keith Brown, wealth advisor
- Bill Conroy, CLU, financial advisor
- Jordan Crowley, CFP ® , financial advisor
- Jonathan Crozier, wealth advisor
- Jake Greenberg, wealth manager
- Jack Grondin, wealth advisor
- Cole Koeniger, AIF ® , financial advisor
- Ryan Miscik, CFA, investment strategist
- Dennis Mojares, wealth advisor
- Ryan Pergola, CFP ® , wealth advisor
- Michael Pfenninger, wealth advisor
- Brian Rapp, financial advisor
- Dante Zicarelli, wealth advisor
The team arrives from M Financial Group where they collectively managed approximately $1.8 billion in client assets and are joined by more than 15 investment and branch professionals. Together, they provide personalized and comprehensive financial and estate planning services that address the unique needs of ultra-high-net-worth families. Greenberg & Rapp specializes in private placement life insurance and private placement variable annuities, sophisticated wealth management strategies that preserve and grow wealth through tax mitigation investment strategies using diverse, non-traditional investments.
“In our discussions with Raymond James, it became clear that they have the cutting-edge technology and home office support we need to focus our time on serving clients,” said Ronald Greenberg. “We’re drawn to the unique culture and share a spirit of independence that gives us the freedom to do what’s right for our clients and continue to grow our business.”
Greenberg has spent 37 years helping owners of closely held businesses and affluent individuals with exit planning and wealth preservation. He holds the Chartered Life Underwriter and Accredited Estate Planner ® credentials.
“We are truly impressed with the sophistication and expertise at Raymond James,” said Thomas Rapp. “Our ultra-high-net-worth clients require sophisticated solutions, and we have received unparalleled support throughout this transition that only confirms we made the right decision for our clients and our team.”
Rapp brings over 30 years of experience in alternative assets, estate planning, private business consulting, niche insurance and private wealth management. He holds the Chartered Life Underwriter, Chartered Financial Consultant and Accredited Estate Planner ® designations.
“We felt that this was the right fit for not only us as business owners, but for our people and our clients,” said Maguire. “In conjunction with Raymond James, we think that we can provide tailored advice while maintaining a culture of service where our clients are taken care of.”
With more than 20 years at Greenberg & Rapp, Maguire uses deep insurance and investment expertise to build estate planning, charitable giving and business wealth transfer strategies for clients.
“It’s my pleasure to welcome the highly-experienced team of advisors and professionals at Greenberg & Rapp to Raymond James,” said David. “They offer clients bespoke strategies, distinctive investments and personalized service and we’re pleased to provide the advanced capabilities of the firm’s Private Wealth program for the benefit of their clients.”
About Raymond James Financial Services
Raymond James Financial Services, Inc. (RJFS), member FINRA/SIPC, is a financial services firm supporting independent financial advisors nationwide. Since 1974, RJFS provides a wide range of investment and wealth planning-related services through its affiliate, Raymond James & Associates, Inc., member New York Stock Exchange/SIPC. Both firms are wholly owned subsidiaries of Raymond James Financial, Inc. (NYSE-RJF), one of the nation’s premier diversified financial services companies with financial advisors throughout the United States, Canada and overseas. Total client assets are approximately $1.64 trillion as of June 30, 2025. Additional information is available at
raymondjames.com
.
Securities offered through Raymond James Financial Services, Inc., member FINRA/SIPC. Investment advisory services are offered through Raymond James Financial Services Advisors, Inc. Greenberg & Rapp is not a registered broker/dealer and is independent of Raymond James Financial Services.
Certified Financial Planner Board of Standards, Inc. (CFP Board) owns the certification marks CFP®, CERTIFIED FINANCIAL PLANNER®, and CFP® (with plaque design) in the United States, which it authorizes use of by individuals who successfully complete CFP Board's initial and ongoing certification requirements.
Raymond James and its advisors do not offer tax or legal advice. You should discuss any tax or legal matters with the appropriate professional.
