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Raymond James’ Alex. Brown adds $230M veteran advisor

Raymond James’ Alex. Brown landed a veteran advisor from Merrill Lynch who handled approximately $230 million in assets, according to a company spokeswoman.

Raymond James has been on a long-running recruiting push, adding advisors to its independent and employee broker-dealer units, which includes the boutique Alex. Brown division. Most recently, the firm landed two advisors managing $240 million from Morgan Stanley.

Newest hire Jon Dayton joins an Alex. Brown office in San Francisco. Dayton has 31 years of financial experience, according to FINRA BrokerCheck records. Prior to spending 19 years at Merrill Lynch, Dayton was previously affiliated with Montgomery Securities and Philadelphia Life Asset Planning. He cited Raymond James’ stability and technology as reasons to make the move.

Jon Dayton, veteran advisor, left Merrill Lynch for Raymond James

“I have always strived to be forthright and place the values of my clients first, and I am pleased to have found a firm that aligns with those values,” Dayton said in a statement.

A spokeswoman for Merrill Lynch did not respond to a request for comment on Dayton’s departure.

News of Raymond James’ latest hire comes just days after the firm said Chief Financial Officer Jeff Julien plans to retire at the end of this year. Julien, who spent 32 years at the firm, will stay on as the executive vice president of finance and a senior advisor to ensure a smooth transition process.

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