A former Morgan Stanley adviser team that managed more than $180 million in client assets has joined Raymond James, the firm said.

Mark Southwell and Bill Martin joined the regional broker-dealer in McAllen, Texas, as part of a newly opened South-Central Texas complex. The complex includes the towns of McAllen, Boerne and San Antonio, and is managed by Sam Dickson, a recent recruit from J.P. Morgan, Raymond James said.

(Left to right) Mark Southwell, Thelma Vela and Bill Martin operate as 1845 Capital of Raymond James.

Southwell and Martin generated $1.4 million in revenues while working at Morgan, according to Raymond James. They operate their new practice as 1845 Capital of Raymond James, recalling the year Texas was incorporated into the U.S. The team is joined by senior client service associate Thelma Vela.

“Our mission at 1845 Capital is to provide client-first wealth management to families, foundations and business owners, through sound financial planning and prudent investment advice," said Southwell.

Tommy Orr, Western Regional Director for Raymond James, said he looked forward to growth opportunities in The Valley area of Texas where the new office is located, and to supporting the 1845 Capital team, "as they continue to grow their businesses, but also as we look to expand across the entire region."

Southwell was hired as a branch manager and senior vice president of investments. He began his career in 1997 at Van Kampen Funds and moved to A.G. Edwards two years later, according to FINRA BrokerCheck records. He joined Morgan Stanley in 2008.

Martin started at A.G. Edwards in 1997 and also moved to Morgan in 2008, where he first partnered with Southwell to run the wirehouse's office in McAllen.

Dickson's career goes back to 1985 when he started out at Merrill Lynch. He went on to do stints at Prudential, Wachovia and Morgan Stanley before moving to J.P. Morgan in 2013. At J.P. Morgan he was an executive director overseeing several branches in Texas and Oklahoma, Raymond James said.

Raymond James earlier this month grabbed another Morgan team which was managing $125 million in client assets.

The firm more recently lured a Wells Fargo Advisers team that managed nearly $7 billion in assets for the firm's Private Client Group.

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