Three former Brown Shipley advisers have become the latest team to set up a new wealth management practice under the Raymond James umbrella.

Doug McCance, Tom Illingworth and James Hymers are the team behind Raymond James Spinningfields – a financial and entertainment precinct which is Manchester’s answer to Canary Wharf.

Mr McCance, an investment manager, said the ability to offer clients a bespoke service and unrestricted advice, without worrying about the regulatory burden, was what attracted the trio to Raymond James. Raymond James operates a model where its advisers and investment managers run their own branche...