Raymond James says that its independent channel recruited three advisors from Merrill Lynch with a total of $300 million and $3 million in yearly fees and commissions.

Dana Havens, Ryan Patterson and Delvan Mitchell Jr., are now part of the Springfield, Missouri, office of Raymond James Financial Services, according to David Sisemore, Midwest regional director. Also joining the team at Raymond James are client service manager Mary Keyes and client associate Beth Berns.

“When considering firms, it came down to the power of independence at Raymond James,” said Havens, in a statement. The firm offers advisors “the freedom to do what’s truly in the best interest of our clients.”

Havens has been in the financial services industry for two decades. She first worked at A.G. Edwards (1997-2000) and later helped open the first Morgan Stanley office in Springfield. She joined Merrill Lynch as a senior financial advisor in 2005.

Patterson has over 18 years of experience in the business. He joined the team in 1999 as an intern at A.G. Edwards and then became an advisor trainee at Morgan Stanley. In 2005, he became a partner while at Merrill Lynch.

Mitchell has over a decade of work as an advisor and leads the team’s business development efforts.

“Our goal is to change the way business is done in Springfield,” explained Mitchell, in a statement. “It’s important to us to provide clients with the best and most welcoming experience as we work with them to reach their wealth management goals.

Raymond James Financial Services works with 4,300-plus advisors nationwide.

Cambridge-Affiliate New

In other news, fee-based wealth manager Prime Capital Investment Advisors says Glenn A. Spencer has joined it as its CEO. The group, which trades securities via Cambridge Investment Research, includes Qualified Plan Advisors—a unit with more than 70 advisors and about $3.4 billion in client assets that offers consulting services to retirement-plan sponsors.

Spencer spent 11 years with Lockton—a privately owned, independent insurance brokerage firm—where he served as U.S. COO, Global COO and most recently as Global CEO. During his tenure at the firm, it grew from $300 million in revenue with 10 offices to $1.5 billion in revenue with over 1,000 offices.

With this appointment, Scott Colangelo is stepping down from the post of chief executive officer. He is now chairman, while President Tim Hakes is becoming vice chairman; both are also managing directors.

“The addition of Glenn to our team fits perfectly with our growth strategy,” said Colangelo, in a statement. “He brings three decades of experience and leadership at the highest levels to our associates and clients.”

Prime Capital said earlier this week that its growth strategy includes plans “to double the size of the firm over three years,” according to a press release.

“I couldn’t be more thrilled about joining such a dynamic organization that keeps client focus, innovation and simplicity at the center of everything we do,” said Spencer, in a statement.

On Thursday, Prime Capital announced that its Qualified Plan Advisors business is expanding via a partnership with Houston-based Ascende Wealth Advisers, a division of EPIC Insurance Brokers and Consultants. The agreement will add about $4 billion in assets under advisement to QPA, as well as a West Coast presence in Northern California.