Raymond James hires Merrill Lynch team with $110M in AUM
Two veteran advisors from Merrill Lynch who generated over $1 million in annual revenue left to join Raymond James, a spokesman for the regional firm said.
Sandy Martin and Kirstin Walker now work from Raymond James’ Orlando, Florida office. One of the reasons for the move is to better serve their female clients, Walker said in a statement.
The firm's Network for Women Advisors, Walker said, “will offer us specific tools and resources as we focus more of our practice on serving women who are responsible for their own financial wellbeing ― a client segment that has been woefully underserved by our industry, in my opinion.”
Martin and Walker managed over $110 million in client assets at Merrill Lynch, according to Raymond James.
Martin started her career at Morgan Stanley in 1988 where she worked from 18 years, according to FINRA BrokerCheck records. She moved to Merrill Lynch in 2006.
Walker began working at Morgan Stanley in 1996. She joined Merrill Lynch the same year as Martin.
The two senior advisors are a part of Raymond James’ recent hiring spree. The firm hired two Wells Fargo brokers last month who had generated $1 million in annual revenue. A team from D.A. Davidson that oversaw $177 million joined Raymond James’ Los Angeles office.
Other firms such as Merrill Lynch and Morgan Stanley have recently slowed down their hiring.