Fountain Financial Group, based in Memphis, Tenn., which manages $832 million in client assets, has partnered with Pinnacle Asset Management, the wealth management arm of Pinnacle Financial Partners, a subsidiary of Raymond James Financial Institutions Division (FID), to join the St. Raymond James Financial Services platform based in Petersburg, Fla., the companies said.
“FID’s steady growth, combined with its client partners’ ability to attract top advisors, reflects the growing market need for this important business model,” said Scott Curtis, president of the Private Client Group, in a statement. prepare. “I look forward to the continued growth and success of our client partners, including Pinnacle Financial Partners, their advisors and valued clients.
According to spokesperson Justin Mayfield, the company’s Curtis private client group includes several affiliation models, including Raymond James & Associates (RJA), Alex.Brown (employee advisors) and Raymond James Financial Services (RJFS) for independent advisers. RJFS provides commission-based services through registered representatives in two divisions: the Independent Contractors Division (ICD) and the Financial Institutions Division (FID). Mayfield said ICD offices are independent establishments aligned with RJFS, while FID offices are primarily located at banks and credit unions nationwide.
The Financial Institutions division was established by Raymond James in 1987 to provide banks and credit unions with an alternative to traditional third-party investment providers.
Formerly with First Horizon Advisors Inc., Fountain Financial Group’s nine-member team includes advisors Eric Fountain, Ben Nicol, Todd Ruston, Zach Wiggs and Wendy Fuller VanCleve, JD. Kaleb Simington and Hailey Williams. Together, they serve a clientele ranging from families and individuals preparing for retirement to business executives and healthcare professionals.
As a division of Pinnacle Financial Partners, the financial partners of Pinnacle Asset Management, which now includes Fountain Financial Group, are affiliated with Raymond James Financial Services. They have access to investment products offered by Raymond James and serve clients from offices across Pinnacle’s footprint, including offices in Tennessee, North Carolina, South Carolina, Virginia and in Georgia.
Fountain, senior partner and general manager of the Tennessee team, said in a press release that his clients will benefit from the partnership.
“Putting people and their financial well-being first is at the heart of everything we do at Fountain Financial Group,” he said. “Our team was immediately attracted to Raymond James and Pinnacle Asset Management because of their alignment with this philosophy and the resources to help us develop our client-centric business approach. The firm’s extensive offering of sophisticated planning resources and integrated technology solutions will greatly enhance our ability to serve our clients.