Financial advisors John Waszolek and his son Eric Waszolek have joined Raymond James & Associates from Morgan Stanley Smith Barney, where they managed $200 million in client assets and had more than $800,000 in annual production.

They will be in the Scottsdale, Ariz., branch office of Raymond James, which is managed by Tom LaPorte.

“We continue to attract talented advisors from virtually every wirehouse,” Tash Elwyn, president, Private Client Group, Raymond James & Associates, told On Wall Street. “Our recruiting has been as strong in 2012 as it has been in the past few years.”

Elwyn attributed this continued strength to a combination of macro and micro factors, such as culture change at the wirehouses and branch manager turnover at those firms. External recruiting at Raymond James is proceeded apace, according to Elwyn, even as his firm is integrating its acquisition of Memphis-based Morgan Keegan.

“I was looking for a firm with a culture that recognizes and appreciates its employees and respects its shareholders’ investment,” said John Waszolek. “With conservative management and 96 consecutive quarters of profitability, I believe Raymond James is the right place for me and my clients.”

John Waszolek previously has been with Merrill Lynch (in  Chicago) and with PaineWebber/UBS; he worked in Scottsdale for the latter firm before joining Morgan Stanley in 2009, prior to its merger with Smith Barney. His son Eric Waszolek has been his father’s partner for four years, working him at UBS and Morgan Stanley Smith Barney.

“It’s an honor to welcome John and Eric,” said Elwyn, “Their talent and experience will be an asset to our firm. They share our firm’s values of independence and conservative management and will enhance our ability to deliver excellent service and professional advice to our clients.”

At Raymond James, John Waszolek has been reunited with sales assistant Linda Keener, with whom he worked at PaineWebber.

Donald Jay Korn writes for On Wall Street.




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