An Ameriprise advisor who managed $100 million in assets is leaving the firm to join Raymond James, his new employer said.

David Katz is the latest new hire at Raymond James & Associates, the firm’s traditional employee broker-dealer arm, which has been on a hiring spree like other regional firms.

It recently pulled a $540 million team from SunTrust and a $160 million husband-and-wife team from Merrill Lynch. Boosted by strong recruiting and robust markets, Raymond James’ Private Client Group hit record-high asset level of $659.6 billion in the third quarter, up 15% from a year earlier. The company’s brokerage headcount is also at an all-time high.

Katz is joining Raymond James's office in Boca Raton, Florida with his client associate Jill Freeman. Katz began his career in 1994 at Metropolitan Life, and prior to Ameriprise, he worked at Gitterman & Associates Wealth Management, according to Raymond James.

A spokeswoman for Ameriprise could not be reached immediately for comment.

Katz said the background of Raymond James's senior leaders, as well as the firm’s technology and investment research support, appealed to him.

“Perhaps the biggest difference between Raymond James and other firms that I noticed is that at Raymond James all the senior leaders I met are either current or former financial advisors,” Katz said. “So they thoroughly understand the impact of their decisions on advisors and their clients.”

For Raymond James, Katz’s primarily fee-based book of clients makes him a perfect fit, said South Florida Complex manager Bert White. Fee-based accounts at Raymond’s private client arm grew 27% to $294.5 billion in the third quarter, representing almost half of its AUM, the company reported last week.