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Raymond James, Baird Add Advisor Teams From Morgan Stanley, as Ameriprise Grabs Merrill FAs

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Raymond James Financial said Monday that a Morgan Stanley Smith Barney team had joined its employee channel in the greater Los Angeles area, while Baird announced that a Morgan Stanley team had joined it in Portland, Ore. Also, Amerprise Financial recruited a team from Merrill Lynch to its New York operations, the company said Monday, illustrating the continued movement of some brokers away from the wirehouse model.

Warren "Bud" Wilson, WMS; John Kwiatkowski, CPA; and Valerie D’Addona recently formed the Greenbrier Wealth Management Group and have set up the practice in the Westlake Village, Calif.-branch of Raymond James & Associates, according to Ron Goldman, branch manager.

“I’m excited to have these veteran advisors join us here at Westlake Village,” said Goldman in a press release. “They are a strong team with a proven track record. Their valuable knowledge and experience makes them a great addition to Raymond James and our branch. Most importantly, they share our firm’s dedication to putting the needs of clients first.”

The team members have typically managed  $415 million in assets and had $2.3 million in yearly production, according to Raymond James.

Wilson worked at Merrill Lynch prior to joining Smith Barney in 1998. Kwiatkowski joined Smith Barney in 1991.  D’Addona worked at Paine Webber prior to joining Smith Barney in 1981.

“Joining Raymond James was a great decision for us and our clients,” said Wilson in a statement. “The firm offers us the support and freedom to make recommendations based solely on our clients’ best interests.”

(Raymond James is hosting its annual national conference this week in Las Vegas.)  

Also on Monday, Baird announced that David Marshall and Gavin Amato  have joined the employee-owned firm and will serve clients as the Marshall–Amato Group in Baird’s Portland office.

Prior to joining Baird, Marshall, Amato and their associates worked at Morgan Stanley Smith Barney and predecessor firms Smith Barney, Shearson Lehman Brothers and E. F. Hutton, as well as at Merrill Lynch.

The team has overseen about $400 million in client assets and generates roughly $1.1 million in yearly revenue.

“We are very pleased to welcome David, Gavin, Dan and Jessica to Baird and extend the firm’s presence to Portland,” said David Perez, senior vice president and branch manager of the new Portland office, in a press release.  “These advisors are seasoned industry veterans with tremendous track records of success, and we are delighted they have chosen to continue providing the highest level of service to their valued clients at Baird.”

Baird says it continues to expand its footprint in the Pacific Northwest and around the rest of the country. Last year, it added Perez to recruit for and manage a new wealth management office in Portland.  Baird’s Portland wealth management office now includes six professionals.

Baird has added nearly 200 financial advisors and branch managers to its Private Wealth Management group since the beginning of 2009.

In addition on Monday, Ameriprise Financial said it has recruited a Merrill Lynch team – Ron Reinas and Josh Brown Wealth Management — in Staten Island, N.Y., that has about $250 million in assets under management. They will be opening their own branches as franchisees, not employees of Ameriprise.


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