Raymond James Recruits Morgan Stanley Team

Less than a week after landing another Morgan Stanley advisor, Raymond James has lured a Midwestern group with over $240 million in assets under management from Morgan Stanley to its independent-broker dealer.

The Oak Brook, Ill., team, now known as Dashboard Wealth Advisors, is helmed by managing director Scott A. Schuster and includes Paul Casazza, Mary Phillips, and Heather Schuster. At Morgan Stanley they operated as the Schuster-Casazza group and generated $1.9 million in yearly fees and commissions.

“It was a slam dunk,” Scott A. Schuster said of the decision to partner with Raymond James in a press release, noting that his team was “looking for a firm with a service-first focus that offers cutting-edge technology.”

The move was just the latest in a string of recent Morgan Stanley vets leaving for Raymond James over the last six months.

Schuster started his career as a CPA with Ernst & Young, later joining A.G. Edwards as a financial advisor in 2000. Prior to his recent departure, he was a senior vice president in wealth management at Morgan Stanley since 2007.

At Dashboard, Casazza serves as business partner and financial advisor. Phillips is the firm’s operations manager and Heather Schuster its chief financial officer.

“I am very pleased to welcome this exceptional team to Raymond James,” said David Sisemore, the Midwest regional director for Raymond James Financial Services. “Scott has a record of consistently focusing on his clients’ best interests, so he and his associates are a great fit for our firm.”