Steward Partners, an independent affiliate of Raymond James, says former Morgan Stanley Smith Barney President Charles D. Johnston has joined its board.
The employee-owned firm has been recruiting wirehouse and other advisors at a fast pace in recent years and now has roughly $10 billion in client assets and 100 advisors. In July, it recruited a team from Wells Fargo with about $500 million in assets and opened its 16th office, in Newtown, Connecticut.
“Charlie’s extremely admired and respected within the wealth management space, and he’s the exact type of industry leader to complement our already esteemed board,” according to Steward Partners CEO Jim Gold. “We couldn’t be more grateful to welcome someone with the influence, accomplishments and contributions to the industry that Charlie has.”
Johnston, who has some 35 years of wealth management experience, was president and CEO of Smith Barney from 2004 until 2009, when he became president and chief operating officer of Morgan Stanley Smith Barney and oversaw a business with $1.7 trillion in assets. He retired in 2011.