Raymond James poaches $600M advisor

Raymond James & Associates recruited another advisor to its burgeoning ranks from TIAA Financial Services.

Joining the St.Petersburg-based broker-dealer is David Ahlquist, who managed $600 million in client assets at his previous employer, according to Raymond James. He’s joined by Christie Hayden, practice business manager.

Together, they specialize in families, individuals, family offices, healthcare professionals, nonprofits, philanthropists, and retirees, according to Raymond James.

In a statement, Ahlquist cited the firm’s resources as a reason to switch firms.

The team will be based in Raymond James’ Houston office.

As wirehouses have been bleeding advisors, regional broker-dealers are aggressively recruiting to boost broker headcount. Raymond James has been inviting advisors to showcase its home office in Florida in a bid to showcase its offerings. In addition, the firm has been striving to build up outposts in the West, a process that still has some way to go, CEO Paul Reilly said in the firm’s recent earnings call.

Ahlquist is an 18-year veteran who worked at Charles Schwab for four years before joining TIAA, where he spent the majority of his career, according to FINRA BrokerCheck Records.

Hayden has worked in the business for 20 years, according to Raymond James.

A representative for TIAA declined to comment.