May 15, 2017
Raymond James Hires Veteran Advisor and Manager for Philadelphia LocationST. PETERSBURG, Fla. – Tony Barrett, Delaware Valley Complex Manager of Raymond James & Associates (RJA) – the firm’s traditional employee broker/dealer – announced the hiring of an experienced industry veteran to manage the firm’s Philadelphia location.
Richard Grobman, managing director, investments and Philadelphia branch manager, joins Raymond James following more than three decades with Oppenheimer & Co. and predecessor firm W.H. Newbold’s Son & Co. In his most recent position as manager of Oppenheimer‘s Philadelphia branch office, Grobman was responsible for approximately 20 financial advisors and support staff. He personally managed over $420 million in client assets and had approximately $1.1 million in annual revenue. Also joining him at Raymond James is Branch Administrative Manager Dawn DeAngelo. Together, they will help support 10 advisors and six service associates at Raymond James who collectively will manage over $1.5 billion in assets. Grobman and DeAngelo have worked together for more than 26 years.
“It’s exciting to have such an experienced and proven management team as Rich and Dawn join the Raymond James family in Philadelphia,” said Barrett. “Their commitment to deliver on what they promise is as genuine and profound as is Raymond James’ reputation of doing what we say we will. They both are solid professionals and will definitely help us continue our expansion in this market. We look forward to supporting Rich’s efforts to not only grow his personal business but also the growth of the Philadelphia office by offering and extending our firm’s culture, technology and high level of service to top quality financial advisors in this part of Pennsylvania.”
“It’s a delight to be at a firm with such a great reputation as Raymond James,” said Grobman. “I am looking forward to building upon the presence we already have in the Philadelphia market and attracting additional experienced advisors to the firm. Once someone realizes the genuinely client-first culture that exists here, combined with the sophisticated tools and resources available to advisors, I would anticipate our growth being rapid. Dawn and I have both been so impressed with the firm’s warm welcome and attention to detail, the responsiveness of the support staff and their focus on helping advisors provide their clients with first-class service – we couldn’t be more pleased to make Raymond James our new home.”
Grobman began his career with W.H. Newbold’s Son & Co. in 1985 in the firm’s Jenkintown office, directly after graduate school. In 1992, the firm became Oppenheimer. Grobman graduated with a bachelor’s degree in business administration from the University of Florida, where he was co-captain of the track and field team, and has an MBA in finance-investment management from Drexel University.
DeAngelo began her financial services career in 1989 at Hopper Soliday & Co., which was acquired by Fahnestock & Co., a predecessor firm to Oppenheimer. She started working with Grobman in 1991, and later became assistant manager of the Philadelphia branch. She has a Bachelor of Fine Arts degree from the University of the Arts in Philadelphia.
Raymond James & Associates
Raymond James & Associates, Inc., member New York Stock Exchange/SIPC, which has built a national reputation for more than 50 years as a leader in financial planning for individuals, corporations and municipalities, is a wholly owned subsidiary of Raymond James Financial, Inc. (NYSE-RJF), a leading diversified financial services company with 7,200 financial advisors serving approximately 3 million client accounts in more than 2,900 locations throughout the United States, Canada and overseas. Total client assets are $643 billion.