Raymond James added a $252 million team from Morgan Stanley to its employee channel, while its associate firm Steward Partners picked up a Merrill Lynch group with $134 million.
In Doylestown, Pennsylvania, Matthew T. Pruitt and Matthew J. Fisher, CFP, came on board Raymond James & Associates. Both were with Morgan Stanley for the past 10 years and also served in the military.
The team operates as Patriot Wealth Management of Raymond James and includes Louise A. Clauso, CFP, senior financial planning consultant, and Dale A. Hoernlein, senior registered service associate.
“The client-centric view at Raymond James is incredibly unique,” according to Pruitt, branch manager and senior vice president, investments. “We built our practice around helping people who serve others first, which aligns perfectly with the client-first culture. The firm’s value of integrity and the strong support and autonomy that is offered by Raymond James as our partner were significant factors in our decision.”
Pruitt has 20 years in the business, while Fischer has roughly 15. Clauso has been in the industry for more than three decades, and Hoernlein has about 18 years of experience.
Meanwhile, Steward Partners opened its newest office in Austin — the firm’s 21st location and third in Texas. The office now serves the Dooley Group, comprised of Gene Dooley, Wes DeVoe and Taryn Bertetto, previously with Merrill Lynch.
“We’re thrilled to have Gene, Wes and Taryn as our first partners in one of the fastest growing markets in the country,” said Chris Barton, divisional president at Steward Partners in a statement.
“Deciding to move is never an easy decision, but after learning about Steward Partners, their fast growth, and most importantly the value we would be able to add to our clients by aligning with them, the choice became clear,” according to Dooley, who began his career in financial services in 2009 and joined Merrill Lynch in 2012.
DeVoe worked with clients on insurance solutions before officially joining Merrill Lynch as an advisor in 2016. Prior to joining the industry, he worked for ESPN as a statistics analyst.
Raymond James also says Patrick O’Connor, CFA, has been promoted to Northern Division director of its employee channel.