The Financial Institutions Division of Raymond James Financial Services has lured a father-and-son advisory team away from UBS Financial Services to First Dakota National Bank, a Raymond James partner bank based in Sioux Falls, S.D.
John Quello and his son, Nathan, joined the banks Loft Advisors team. They had $325 million in assets under administration and produced more than $1.6 million in annual fees and commissions at UBS, according to Raymond James.
We discovered during our due diligence process that what we were really looking for in a firm was one with a more family-oriented, personal feel, John Quello said in a statement. We wanted to be affiliated with a banking institution and yet be a part of a firm with accessible resources and responsive support.
John Quello has been in the industry for 34 years. His son joined him in the business in 2000, according to Raymond James.