WealthManagement.com reported on a Southwest Florida group with roughly $700 million in assets that has come to Raymond James, landing in the firm's Financial Institutions Division, which serves bank and credit union advisors. Per that outlet, the advisors left Truist Investment Services and are taking their practice into the investment program of Pinnacle Financial Partners.
Brown, Taylor, Shaw & Associates is the name the group uses, with Darrell Brown, Mark Taylor and Jonathan Shaw at its head. WealthManagement said client service associate Erin Powers-Westendorf has also joined the group. Fa-mag reported that all three advisors were previously with SunTrust Investment Services before SunTrust merged with Truist, and gave their tenure dates: Brown joined SunTrust in 1998, Taylor in 2007 and Shaw in 2012. InvestmentNews describes the practice as based in Naples, Florida, and says the team will provide services through Raymond James Financial Services.
WealthManagement also said the group has moved under Pinnacle Asset Management, the arm that relies on Raymond James Financial Services for its brokerage. The outlet quoted Oliver Mansour, whom it describes as South division director of the Financial Institutions Division, praising Pinnacle and the division's history of supporting advisors. InvestmentNews said the recruitment came through the division, which it describes as led by president Stephen Kruchten. Fa-mag cites a news release for the team's Southwest Florida service area, but that release could not be retrieved, and no Raymond James or Pinnacle press release for this specific team was located.
Raymond James is headquartered in St. Petersburg, Florida, and is listed on the New York Stock Exchange under the ticker RJF. The firm was founded in 1962 by Robert James, and Paul Reilly is its chairman and chief executive, according to Wikipedia. The firm's own quick-facts document reports about $1.92 trillion in total client assets as of June 30, 2026, and about 8,900 financial advisors. The same document lists about $345 billion in financial assets under management in managed programs for the same date, a separate measure from client assets. Third-party profile data for Raymond James's broker-dealer entities show figures that do not match the firm's own totals, so those numbers should be treated with caution.
According to Fa-mag, the Financial Institutions Division dates to 1987 and was created as an option for banks and credit unions that would otherwise rely on outside investment firms. EuropeSays reports that the division currently serves about 950 advisors across 160 institutions. WealthManagement previously reported that in May 2024 The Horizon Group, which had managed about $947 million at Truist, joined Pinnacle Asset Management in Ponte Vedra, Florida, through the same division, making it a close precedent for this transfer.
Separately, Wikipedia reports that in January 2026 Raymond James agreed to acquire Clark Capital Management Group, which has more than $46 billion in assets under management. That deal was expected to close in the third quarter of 2026, subject to regulatory approval. It is unrelated to the Southwest Florida team and is included only as background on the firm's recent activity.
The sources do not disclose the team's compensation or the terms of its transfer from Truist. No Raymond James or Pinnacle press release for this specific team was located in the material reviewed for this article.