Wells Fargo loses $375M team to Raymond James

Preston Covington III and team expand firm's coverage to Columbia, S.C.

Feb 27, 2017 @ 1:32 pm

By Mopedia

Preston Covington III and team have joined Raymond James & Associates, the firm's traditional employee broker/dealer, from Wells Fargo Advisors.

The team, known as the Covington Financial Group, managed approximately $375 million in client assets and had annual fees and commissions of more than $2.4 million at Wells Fargo, Raymond James said in a release.

The team's office is the firm's sole employee-broker-dealer branch in Columbia, S.C.

In addition to Mr. Covington, who spent more than 20 years at Wells Fargo and its predecessor firms, the team consists of Amanda Simconis, a senior investment portfolio analyst, and Lindsey Sisk, a registered client service associate.

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