Raymond James recruited a UBS team led by two brothers, a spokeswoman for the regional firm confirmed.
The group, led by brothers Preston and David Elliott, joined Raymond James' employee channel last week in Bexley, Ohio, a suburb of Columbus.
The spokeswoman declined to provide their AUM or production.
Profits and revenues are down for all but one of the brokerages.
David Elliott began his advisory career at J.C. Bradford in 1997, according to FINRA BrokerCheck records. Elliott, a graduate of Dennison University in Granville, Ohio, played football and baseball at the university, according to the university’s Athletic Hall of Fame website. After graduation, he played baseball in the minor leagues.
In 2000, Elliott moved to Legg Mason where his brother Preston joined him that same year, per BrokerCheck records. The two brothers stayed through the sale of the brokerage unit to Smith Barney in 2006. They joined UBS in 2009.
Prior to becoming a financial adviser, Preston Elliott had worked at General Mills and Aurora Foods, according to the team's website. He is a graduate of Indiana University.
Also moving with the team is adviser Mitchell Lothes. He started his advisory career at UBS in June 2015, according to BrokerCheck.
A UBS spokesman declined to comment on the team's departure.
