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Raymond James Unit Adds $400M Advisor

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Raymond James’ Alex. Brown division has recruited $400 million advisor Reynaldo Figueredo from Deutsche Bank, the former owner of the business unit.

Figueredo, whose clients live in Argentina, Chile and the United States, will join the Brickell Avenue branch in Miami. The advisor is the sixth advisor to join that Miami office this year.

(Raymond James completed its purchase of Alex. Brown from Deutsche Bank’s U.S. Private Client Services Unit in 2016. The unit caters to high-net-worth and ultra-high-net-worth investors.)

The 28-year industry veteran previously served as a director and relationship manager of Latin America for Deutsche Bank in New York and Miami. Earlier, he worked for banks in Spain, Belgium and Luxembourg.

Figueredo says he was attracted to Alex. Brown’s “boutique feel,” stating his new firm “allows me the flexibility to manage my multi-jurisdictional clients through an industry platform that handles the needs of U.S. and international clients.”

In July, Alex. Brown added a $280 million all-female advisor team from UBS to its Miami office. The bilingual, all-female team, originally hail from Venezuela.

Raymond James ended the second quarter with 8,155 independent and employee advisors as of June 30. That’s up 251, or about 3%, from a year ago, and seven advisors from the quarter ending March 31.

Raymond James will release earnings for the period ending Sept. 30 and its 2020 fiscal year on Oct. 28.

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