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Raymond James Hires Two Merrill Advisors

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Raymond James said Wednesday that it had added two Merrill Lynch advisors to its Raymond James & Associates branch office in Tallahassee, Fla., with about $114 million in assets and more than $600,000 in yearly fees and commissions.

dennis zankRobert “Bob” Brooks and his son Wyatt Brooks recently came over to Raymond James’ employee channel, which is led by Dennis Zank (left), with a sales associate. Bob Brooks had worked with Merrill for 19 years, while his son has been with the wirehouse firm for 13 years.

“I am pleased to welcome Bob and Wyatt and their registered sales assistant, Danna Campbell, to the Raymond James family,” said Scott Curtis, senior vice president of the Private Client Group of Raymond James & Associates, in a statement. “Our values, culture and broad platform continue to attract some of the very best advisors and teams in the industry, and we’re proud to be affiliated with them.”

Bob Brooks, in a press release, said, “After a thorough evaluation, we chose to join Raymond James because it had the highest client satisfaction in the industry,  is known as a firm that respects its financial advisors while putting clients’ interests first, and, candidly, it just feels very comfortable being here.” 

In late July, a high-net-worth team with more than $500 million joined Raymond James & Associates from Morgan Stanley Smith Barney.

Raymond James Financial, which is based in St. Petersburg, Fla., has some 5,300 advisors operating in various channels and $280 billion in client assets under administration.

In late June, the company reached a roughly $282 million settlement with the SEC and state regulators tied to sales of auction-rate securities.