High-net-worth

Raymond James Financial (RJF) has added a 16-member advisory team, formerly with M Financial Group, to its Raymond James Financial Services (RJFS) independent channel. Led by Thomas C. Rapp, Ronald J. Greenberg, and Patrick Maguire, the team manages approximately $1.8 billion in client assets. Based in Morristown, NJ, and West Palm Beach, FL, they specialize in wealth management strategies for ultra-high-net-worth families. This acquisition enhances Raymond James’ wealth management capabilities, bringing their total client assets to approximately $1.64 trillion as of June 30, 2025.

BMO is acquiring Burgundy Asset Management for $625 million in BMO shares to expand its wealth management services. This deal significantly strengthens BMO’s capabilities for high-net-worth and ultra-high-net-worth clients. Burgundy, with $27 billion in assets under management, will integrate into BMO Wealth Management, enhancing BMO’s position in the Canadian Investment Counsel market. The acquisition is expected to close by the end of 2025.

UBS Wealth Management US welcomes Mellany Bagtas as a Financial Advisor in New York City, based at the 299 Park Avenue office. Bagtas, previously at Morgan Stanley, brings experience to serve high-net-worth clients, offering tailored financial strategies. UBS highlights her expertise in wealth preservation, planning, and customized solutions.