Raymond James & Associates is strengthening its employee base with two Morgan Stanley advisors and a new head for its inclusion network.
The wirehouse duo managed $252 million in client assets and will open a new practice for the St. Petersburg, Florida-based regional broker-dealer.
Matthew Pruitt and Matthew Fisher, U.S. Navy and Army veterans, respectively, named their practice Patriot Wealth Management of Raymond James because of their military experience and their clients’ interests in national causes, according to the firm.
Pruitt worked in the advisory industry for 22 years and served in the Navy for 25 years prior to that, according to the firm.
His partner Fisher, has worked as an advisor for 15 years — all of them at Morgan Stanley, according to FINRA BrokerCheck Records.
Joining their team is Louise Clauso and Dale Hoernlein, with 33 and nine years of experience, respectively, according to BrokerCheck. Clauso will come in as a financial consultant and Hoernlein will be the senior registered service associate.
A spokeswoman for Morgan Stanley declined to comment.
In other Raymond James news, the firm is consolidating several networks — Network for Women Advisors, Advisor Pride Network and Black Financial Advisors Network — into one group called the Advisor Inclusion Network.
The new entity will be led by Renee Baker, formerly chief marketing officer at Carillon Tower Advisers, a subsidiary of Raymond James.
Baker previously worked at OppenheimerFunds, JPMorgan and Bank of New York before joining Raymond James two years ago, according to the firm.
Centralizing the leadership of these networks will assist in increasing diversity within Raymond James, said the president of its Private Client Group, Scott Curtis.
