Raymond James welcomes advisor duo managing $130 million to investment program at TowneBank
ST. PETERSBURG, Fla. – Raymond James Financial Institutions Division (FID) recently welcomed financial advisors Thomas Vitaletti and Tommy Vitaletti to Towne Wealth Management (TWM), located at TowneBank, according to Stephen Kruchten, president of FID. With this new alignment, the advisors will provide clients with investment and wealth management services through Raymond James Financial Services, Inc.
The father-son duo is based in Williamsburg, Virginia and manages approximately $130 million in client assets. They were previously affiliated with LPL Financial as part of Old Point National Bank, which was acquired by TowneBank in September.
“Tom and Tommy’s decision to continue their work through TWM and FID underscores our shared commitment to culture, integrity and client service,” said Oliver Mansour, South division director of FID. “We’re excited to support them in this next chapter and to further strengthen Towne Wealth Management’s growth with the flexibility, support and resources that help advisors deliver an exceptional client experience.”
“TowneBank’s acquisition of Old Point gave us the opportunity to step back and consider what was best for our practice and our clients,” said Thomas Vitaletti. “TWM, with the strength of Raymond James behind it, offered exactly what we were looking for – true independence, advanced technology and a culture built around doing what’s right for clients.”
Thomas Vitaletti is a financial services veteran with more than three decades of experience in banking and wealth management, including 14 years at his previous firm. He is a graduate of the Rochester Institute of Technology.
Tommy Vitaletti began his financial services career in 2021 alongside his father. He holds an MBA with a concentration in finance from William and Mary and a bachelor's degree in economics from Christopher Newport University.
“We’re thrilled to welcome this talented team to TWM. With the exceptional support, technology and platform offered by Raymond James, Tom and Tommy are well-positioned to continue providing outstanding guidance to their clients,” said Ross Legum, executive vice president and branch manager for TWM.
About the Financial Institutions Division
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. Raymond James provides full-service securities brokerage and advisory services to financial institutions seeking to compete with the largest banks and securities firms in the country. In addition to a full complement of investment products and services, Raymond James has the ability to deliver investment banking, public finance, research, self-clearing capabilities and wealth management services to both individuals and institutions.
About Raymond James Financial Services
Raymond James Financial Services, Inc. (RJFS), member FINRA/SIPC, is a financial services firm supporting independent financial advisors nationwide. Since 1974, RJFS provides a wide range of investment and wealth planning-related services through its affiliate, Raymond James & Associates, Inc., member New York Stock Exchange/SIPC. Both firms are wholly owned subsidiaries of Raymond James Financial, Inc. (NYSE-RJF), one of the nation’s premier diversified financial services companies with financial advisors throughout the United States, Canada and overseas. Total client assets are approximately $1.73 trillion as of Sept. 30, 2025. Additional information is available at raymondjames.com.
About TowneBank
Founded in 1999, TowneBank is a company built on relationships, offering a full range of banking and other financial services, with a focus of serving others and enriching lives. Dedicated to a culture of caring, Towne values all employees and members by embracing their diverse talents, perspectives, and experiences.
Today, TowneBank operates over 55 banking offices throughout Hampton Roads and Central Virginia, as well as Northeastern and Central North Carolina – serving as a local leader in promoting the social, cultural, and economic growth in each community. Towne offers a competitive array of business and personal banking solutions, delivered with only the highest ethical standards. Experienced local bankers providing a higher level of expertise and personal attention with local decision-making are key to the TowneBank strategy. TowneBank has grown its capabilities beyond banking to provide expertise through its affiliated companies that include Towne Wealth Management, Towne Insurance Agency, Towne Benefits, TowneBank Mortgage, TowneBank Commercial Mortgage, Berkshire Hathaway HomeServices RW Towne Realty, Towne 1031 Exchange, and Towne Vacations. With total assets of $18.26 billion as of June 30, 2025, TowneBank is one of the largest banks headquartered in Virginia.
Securities offered through Raymond James Financial Services, Inc., member FINRA/SIPC, and are not insured by bank insurance, the FDIC or any other government agency, are not deposits or obligations of the bank, are not guaranteed by the bank, and are subject to risks, including the possible loss of principal. Towne Bank and Towne Wealth Management are not registered broker/dealers and are independent of Raymond James Financial Services. Investment advisory services offered through Raymond James Financial Services Advisors, Inc.