Financial services firm Raymond James will next week relocate its West End Avenue office, which is home to about 50 people, to MarketStreet’s Gulch Crossing building on Demonbreun Street. The firm’s local leaders have big plans to capitalize on their new space by beefing up their personnel roster by at least seven financial advisors and their staffs.
“The opening of Raymond James’ office at Gulch Crossing has been long anticipated by our advisors and staff and provides us with much needed space to accommodate the expansion of our already strong presence here in Nashville,” Bill Lynch, manager of the retail office, said in a release.
The West End Raymond James branch has almost $2 billion of client assets under management and has grown from its four advisors in 2006 to the 18 who will make the Gulch move.
Cool Springs money manager Dave Crouch has recruited financial executive and former Williamson County Schools board member Cherie Hammond to help him build Aspen Grove Asset Management, the eight-year-old firm that manages about $65 million. Hammond, who is married to media entrepreneur Dan Hammond, also challenged Glen Casada in last year's election for the state House District 63 seat.
As an alternative to product-based financial advisors, Crouch has built the firm’s reputation on intensive management of personally selected individual securities portfolios. Although Hammond will focus on business development in the short term, she plans to earn her Series 7 and Series 66 licenses and become an Investment Advisor Representative within the year.
The state's No. 2 investment manager is departing to lead Maryland's pension fund system. Pensions & Investments reports that Andrew Palmer, deputy chief investment officer at the Tennessee Consolidated Retirement System, has been named CIO of the slightly larger Maryland State Retirement & Pension System. Palmer has worked for the state since 2006, when he joined as director of fixed income investing from Washington, D.C.-based firm ASB Capital Management.
Getahn Ward at The Tennessean reports that UBS is close to committing to 30,000 square feet in One Franklin Park, which already has snagged some other big names. The global financial giant, which has been busy building up its downtown operations center, will install some back-office workers in Cool Springs and also open a wealth management office that could grow to 28 people. Read more here.
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