Raymond James Financial

“I can’t remember seeing so many $5 million to $10 million [advisors] in the pipeline,” CEO Paul Reilly said.

The latest move is part of the regional broker-dealer’s western expansion, including teams in Colorado, Arizona and Oregon.

The hybrid RIA pivots to take on Dynasty as a platform provider, offering equity as a sweetener.

New recruits hailed from firms including Wells Fargo, Merrill Lynch and Raymond James.

The “get” marks one of the largest hires the year for the regional BD.

The firm is relying on firm reputation and word-of-mouth referrals for growth.

The employee and independent BD collected excess UIT commissions and failed to properly review inactive accounts, the regulator says.

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While there are now 1,100 advisors who are women at the firm, they make up less than 16% of the headcount.

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The new recruits include a father-and-son duo in Orlando.

So far this year, Janney has onboarded 36 financial advisors. The newest team managed more than $290 million in client assets.

Each of the three advisors has more than 20 years of experience in the business.

The firm has made formal hiring offers totaling approximately $214 million as of June 30.

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The new recruits bolted from Morgan Stanley after nearly 20 years with the wirehouse and its predecessor firms.

The two advisors will name the team’s practice after their shared experience working for the military.

The new recruits came at the expense of wirehouse rivals Merrill Lynch and Wells Fargo.

The firm isn’t “the high bidder,” and that’s just fine, according to Paul Reilly.