Raymond James adds $540M recruits, complex manager
Raymond James enticed advisors managing more than a half-billion dollars in combined client assets from rival firms, the company said.
It also picked up a new complex manager for its employee broker-dealer.
On a long-running recruiting push, the firm has raised its headcount to 8,011 advisors for the third quarter, up a net 198 from the same period a year ago, according to the company’s recent earnings report.
Among the new additions are Jimmy Blackburn and Reed Potter Jr., who signed on with Raymond James’ independent broker-dealer in Pikeville, Kentucky. The two managed $241 million at their previous employer, Merrill Lynch, according to Raymond James.
Their team, which goes by Legacy Financial Investment Services, includes financial advisors Cheryl Robinette, Brianna LeRae Blackburn and Zachary Lukins, as well as client service associates Evelyn Bear and Misty Potter.
“When reviewing firms, we were looking for somewhere we could really get a fresh start,” Blackburn said in a statement. “Raymond James felt like the right place to do that, as here we are able to preserve our way of doing business with firm values and principles that align perfectly with ours.”
Blackburn and Potter are industry veterans with 25 and 22 years of industry experience, respectively, according to FINRA BrokerCheck records. They had been with Merrill Lynch since 2006 and previously worked at Morgan Stanley.
In Greenwood, Indiana, Raymond James picked up advisor Erik Weiss from JP Morgan, which has filed a lawsuit against the advisor, accusing him of violating non-solicitation agreements. Weiss has denied the allegation and the case is currently pending in federal court. Weiss managed approximately $200 million while at his previous employer, according to Raymond James.
Weiss, who joined the firm’s employee BD, has more than 15 years of experience in financial services.
Former Wells Fargo advisor Kimberly Maxey joined Raymond James’ employee channel in Chicago. She managed $121 million at Wells, according to her new employer. Moving with her is Darlene Worthington, senior registered client service associate.
Maxey cited the firm’s resources and technology as reasons for making the move. She had been with Wells Fargo, and predecessor firm Prudential Securities, since 1999, according to BrokerCheck.
Finally, Raymond James added a new complex manager: Jeremy Silvas. He joins from Merrill Lynch and will oversee Raymond James’ North Texas/Arkansas Complex, which has branches in downtown Dallas, Duncanville, Fort Worth and Southlake as well as all of the firm’s branches in the state of Arkansas.
Silvas is based in Dallas.