Raymond James said Monday that it added a former Morgan Stanley (MS) team to its employee-advisor office in Washington, D.C.
Douglas W. Richards and Sheldon Ray Jr. join the firm with about $150 million in client assets and yearly fees and commissions of $1.9 million.
“We’re very pleased to have advisors with Doug and Sheldon’s experience, professionalism and success join our Washington office,” said Tom Galvin, North Atlantic regional director for Raymond James & Associates, in a statement.
“We’re committed to expanding our presence in the mid-Atlantic and Northeast regions, and this team’s move is a result of those efforts,” Galvin explained. “Complex manager Warren Wright and the rest of our North Atlantic team all look forward to supporting them as they continue to grow their business.”
The team does business as R&R Global Asset Management of Raymond James.
“We find it so refreshing to experience a culture so contrary to that of Wall Street,” Richards said in a press release.