Raymond James recruited a Morgan Stanley team that previously oversaw more than $144 million in client assets, according to the firm.
Advisers Janis Cross, Matthew West and A.J. Schultz joined the firm's employee channel in January in Colorado Springs, Colorado, where they report to George Garro, branch manager.
While at Morgan Stanley, the trio generated $1.13 million in annual revenue, according to Raymond James.
They made the move in part was for Raymond James' corporate culture and its back office support, the trio said in a statement.
"The size of the firm felt just right, too. Big enough to offer us and our clients all the resources we need and expect — whether technology, research or marketing — but small enough to not get bound up in red tape and bureaucracy," Schultz said.
Cross had been with Morgan Stanley since she joined the industry in 1997, according to BrokerCheck records.
West started his advisory career at Smith Barney in 2004, staying through that firm's merger with Morgan Stanley. Schultz joined Morgan Stanley in 2011, per BrokerCheck.
A Morgan Stanley spokeswoman declined to comment.
Raymond James currently has about 7,100 advisers and total client assets of approximately $622 billion.
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