VOL. 127 | NO. 59 | Monday, March 26, 2012
Wunderlich Securities Inc. Expands Private Client Group in Houston
By Andy Meek
Memphis-based Wunderlich Securities Inc. has expanded its private client group in Houston.
A financial group comprised of three people in Houston with $65 million in assets under administration has joined the firm.
They include D. Lynn Houston, who for more than 40 years has helped clients develop custom financial plans through which they can achieve their life goals. Working with The Houston Group prior to now joining Wunderlich, Houston provided the investment philosophy, quality control, client relations and screening for stock values for the group.
Matthew Houston is a 10-year veteran of the wealth management business. His responsibilities for the Houston Group have included trading, performance reviews, investment policy implementation and client relations.
Sandra Jolly has more than 21 years of experience in wealth management. She also has several years of experience in marketing, management and client services.
Wunderlich is a full-service brokerage firm that caters to individual and institutional clients with a range of services including financial advisory, brokerage, equity research and investment banking. The firm has 24 offices across 14 states and more than 450 associated professionals.
In other financial services news, the CEO of Evolve Financial Group Inc., the parent of Evolve Bank and Trust, sent out a shareholder update letter within the past few days providing the latest snapshot of the company.
Memphis-based Wunderlich Securities Inc. expands private client group in Houston with addition of three people with $65 million in assets under administration.
Notably, he wrote that Evolve – which grew its loan portfolio by 69 percent in 2011 – expects to see a pickup in industry consolidation activity in the near future.
And Evolve expects to be in the driver’s seat when that happens.
“To date, we have increased capital and expanded our balance sheet based on an organic growth plan,” he wrote. “Looking ahead, we may consider strategic acquisitions of like-minded banking organizations or branches and/or acquisitions of community bank loans and deposits in our targeted markets. Our experienced bankers – most with more than 20 years of banking experience – continue to generate positive growth and demonstrate our commitment to our shareholders and the communities we serve.”
Evolve ended 2011 with 350 employees, five full-service bank branches in Arkansas and Tennessee, 25 mortgage loan production offices, a nationwide trust services platform, and a Small Business Administration loan production office.
Finally, the soon-to-come integration of Memphis-based investment firm Morgan Keegan & Co. Inc. with St. Petersburg, Fla.-based Raymond James Financial Inc. remains on schedule.
Raymond James disclosed Wednesday, March 21, that its planned integration with Morgan Keegan remains on schedule to close April 2.
Also, the company that will be Morgan Keegan’s new parent said 98 percent of Morgan Keegan financial advisers who were presented with retention incentive offers have said they’ll accept them and will join Raymond James upon closing of the merger.
Raymond James and Morgan Keegan announced earlier this year that a deal had been reached whereby Raymond James is paying $930 million to acquire the Memphis firm.