Benjamin Edwards announced its latest bundle of recruiting moves. The firm opened a new East Coast office and brought on five new advisors.  

The firm added Sarasota, Fla., to their list of regional branches, according to a statement. The new office is the sixth in the state, joining Boynton Beach, Destin, Melbourne, Panama City and Pensacola offices, according to the firm.

Collectively, the new recruits managed a total of $600 million in assets before joining Benjamin Edwards, according to a spokeswoman.

Founded in 2008, St. Louis-based Benjamin Edwards currently has 50 branch offices in 24 states with more than 400 employees, the firm said.

Read more: Regionals Ride Recruitment Wave -- Why Big Firms Worry

Former Morgan Stanley advisor Robert Kahne will head the firm's new Sarasota office as managing director of investments, Benjamin Edwards said. Kahne got his start in the industry 29 years ago at A.G. Edwards & Sons, according to FINRA's BrokerCheck. After that, he spent three years at Citigroup before joining Morgan Stanley in 2009.

Richard Milliard was lured to the firm's Melbourne, Fla., branch after spending nearly seven years with Wells Fargo, according to BrokerCheck. Milliard has previous experience with A.G. Edwards & Sons, Charles Schwab and New York Life Investment Management. 

The firm said two other Wells Fargo advisors joined their Harrison, Ark., office.

Chris McNew was appointed to branch manager and senior vice president at the Arkansas branch after spending nearly 20 years in the industry, according to BrokerCheck records. Sonja Snell joins McNew as his financial associate, the firm said.

Randy Raney, a 35-year industry veteran, is also joining the Harrison branch after spending six years with Wells Fargo, according to the firm. Prior to joining Wells Fargo in 2008, Raney spent 26 years at A.G. Edwards & Sons, according to BrokerCheck.

Read more: Wells Fargo Team Moves to Benjamin Edwards

After 38 years in the industry, Arthur C. Laine transferred from Morgan Stanley to Benjamin Edwards in Peoria, Ill., as a branch vice president, the firm said. Most of Laine's experience is focused around portfolio management, retirement planning and wealth accumulation, according to statements from the firm. Before joining Morgan Stanley in 2009, Laine spent nearly 16 years at Citigroup, and worked at Lehman Brothers from 1988 to 1993, according to FINRA records.

In Highlands, N.C., Justin Souma, CFP, was appointed to financial consultant where he will focus on managed accounts, tax-reduction strategies and client education, the firm said. Souma previously spent seven years at LPL Financial, nine months at Wachovia Securities and four years at A.G. Edwards & Sons, according to BrokerCheck.

Read more:

Register or login for access to this item and much more

All On Wall Street content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access