Raymond James Financial says that Alex. Brown has recruited a team from Morgan Stanley with more than $500 million in assets and $3.3 million in trailing 12-month fees and commissions.
East Coast Advisors is based in New York and includes Todd Kissel, Joshua Pasahow, Ida Ng and John Rivera. Kissell and Pasahow, both certified financial planners, are the team’s two advisors, while Ng serves as a portfolio associate and Rivera as a client-service associate. Kissel also has an office in Boca Raton, Florida.
“We are delighted to welcome Todd, Josh, Ida and John to Alex. Brown,” said John Sutton, Alex. Brown’s New York regional executive, in a statement. “Their experience and client-centric approach in serving high-net-worth individuals and families make them an ideal fit with our firm.”
Raymond James acquired Alex. Brown from Deutsche Bank last year, adding more than 190 advisors with about $40 billion in client assets.
“Todd and Josh exemplify the type of professionals who are well suited for Alex. Brown,” said Haig Ariyan, president of the Alex. Brown division of Raymond James, in a statement. “They bring a sophisticated, client-focused practice to our firm, and we are pleased to have them representing us in New York.”
According to Ariyan, Alex. Brown has recruited “about a dozen new advisors to several different offices, including two branch managers,” since its merger with Raymond James, and has “many more in the pipeline,” he said.
Kissel has more than 30 years in the business. He began his financial services career in 1986 in New York with Merrill Lynch, and later moved to UBS in 2000. He joined Citigroup Smith Barney in 2008, and it was bought by Morgan Stanley in 2009.
“When we started our search for a new firm, we knew we wanted one that was completely focused on serving its clients’ needs and putting their interests first,” Kissel explained in a statement. “But we also wanted a firm that was well capitalized, was conflict free and offered great technology. Raymond James, and in particular its Alex. Brown division, of which we’ve been fans for some time, just stood out — and so it made sense both for our clients and for our team to make this move.”
Pasahow started his career soon after meeting Kissel in 2008. His grandparents were Kissel’s clients at the time, and that inspired him to join Citigroup Smith Barney, according to Raymond James. Pasahow later become a senior portfolio manager at Morgan Stanley.