Raymond James picked up 11 advisors managing a combined $585 million in client assets from three rival firms, the company said.
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In Seattle, Raymond James added advisors Jonathan Palmer and Alexander Moore. They previously managed $145 million in client assets at Wells Fargo, according to their new employer. They operate under Raymond James & Associates, the firm’s employee broker-dealer unit.
“When we met with the firm’s senior leadership, we were impressed by the culture Raymond James has built, particularly in the Seattle area,” Palmer said in a statement.
Palmer and Moore were registered with Wells Fargo since 2011, according to FINRA BrokerCheck records. Janet Lee, senior registered client service representative, also moved with the team when they transitioned in October, according to BrokerCheck.
The following 17 teams oversaw about $75 billion in assets. The firms ending the year with prize recruits include a diverse cast: regional BDs, wirehouses, boutiques and RIAs.
Former Morgan Stanley advisors Patricia Sans and Seraphim Rine joined Raymond James & Associates in West Palm Beach, Florida. They managed $170 million, according to their new employer.
“The home office visit was a turning point in our decision to join Raymond James,” Sans said. “Going to the office, meeting some of the executives and having them ask us questions about our business really solidified the culture.”
Sans, an advisor of 34 years, joined Morgan Stanley from Merrill Lynch in 2011, according to BrokerCheck. Rine had been at Morgan Stanley or Citigroup since 2001.
They made the move in September.
Raymond James also picked up a team overseeing $170 million in client assets that was previously affiliated with LPL Financial. Advisors Robert Ellis, Christopher Van Son, Joe Starinsky Jr. and Julie Barr are based in Orchard Park, New York. They said part of the reason they switched BDs was the technology offerings at Raymond James.
Led by Ellis, an industry veteran of 32 years, the team had been affiliated with LPL since 2011, according to BrokerCheck. The group brought with them fellow team members Lacey Dale, senior client service representative; Sarah Foss, registered client service representative; and Paula Valentino, client service representative. They transitioned to Raymond James in October.
Raymond James also hired a former UBS team that same month. Advisors Elizabeth Hulley, Sean Reynolds and Benjamin Nicholson joined the firm’s employee branch in Buffalo, New York. They previously oversaw $100 million in client assets.
Hulley had been with Wells Fargo or predecessor firm A.G. Edwards since 1990, according to BrokerCheck. Reynolds joined the wirehouse from Merrill Lynch in 2010. Nicholson joined two years later after a brief stint at Edward Jones.
They pointed to the corporate culture at Raymond James as a reason for making the move.
Client service associate Kristie Gruszka also moved with the team, which transitioned in October, according to BrokerCheck.
Spokeswomen for Wells Fargo, Morgan Stanley and LPL Financial could not be reached for immediate comment.
