Raymond James (RJF) said Tuesday that a former Merrill Lynch (BAC) team managing some $250 million in assets has joined its employee-advisor channel in Virginia. This news came one day after several advisors with about $175 million in assets joined the same unit in Florida from UBS (UBS) and Morgan Stanley Smith Barney (MS).
“I’m thrilled to welcome such an accomplished team to Raymond James [from Merrill Lynch],” said Tash Elwyn (right), head of the Atlantic region of Raymond James & Associates, who was recently tapped to replace Dennis Zank in 2012 as head of RJ&A (when Zank becomes COO) in a press release. “Blue Ocean Wealth Advisors is an extremely talented group who bring extensive knowledge and a multitude of experiences to our firm. We could not ask for a stronger team to open the first RJ&A office in the southeast Virginia area.”
The team joining in Virginia Beach includes four financial advisors: Robert Krebs, Brian Pennell, Jennifer Duffy and Sandra Peters, who recently formed Blue Ocean Wealth Advisors.
“Before joining the firm, we conducted extensive due diligence and in the end chose Raymond James because of its reputation for exceptional client service,” said Krebs in a statement. “The firm treats financial advisors as their clients, and that enables us to provide the highest level of service to our clients every day.”
In Miami, Raymond James says it has recruited Pedro Harth-Silva, Luis Alayo and Miguel Rodriguez, according to Frank Amigo, South Florida complex manager.