Raymond James announced on Monday it nabbed a $500 million team from Morgan Stanley Smith Barney in Newtown, Pennsylvania.

The wealth management team of Thomas A. Seiler and his brother Patrick M. Seiler joined the Newtown, Pa., office of Raymond James, according to Dennis Zank, president of Raymond James & Associates, the employee broker/dealer of Raymond James.

“Their stellar reputation together with their client-first focus fits perfectly with the culture and values of Raymond James,” said Zank in a press release. “I know branch manager Joe Allen and complex manager Tom Walrond could not be more pleased to welcome them on board.”

Thomas Seiler began his career at Merrill Lynch in 1990 before joining Smith Barney in 2005. Meanwhile, Patrick Seiler started his financial career in 1995 with A.G. Edwards, moving to partner with Thomas at Merrill Lynch. They then transitioned together to Smith Barney in 2005, where they have focused on advising high-net-worth individuals and families on accumulating and preserving wealth.

Patrick has a Certified Investment Management Analyst designation and is also a Certified Financial Planner Professional. The Seilers are joined at Raymond James by financial advisor Ryan Wayne, senior registered service associate Nicole Morawski, and client service associates Terri Schafer and Ross Hart.

“Joining Raymond James has been a great decision,” said Thomas Seiler, “both for our clients and our team. In addition to the extensive high-quality products and services, the firm’s unique culture of independence gives us the support and freedom to make recommendations based solely on our clients’ best interests. We are empowered to advise clients according to our firsthand understanding of their needs, goals and objectives.”

Through its three principal broker/dealer subsidiaries, Raymond James Financial has more than 5,300 financial advisors serving 1.9 million accounts in 2,200 locations throughout the United States, Canada and overseas. Total client assets are approximately $278 billion, of which approximately $37 billion are managed by the firm’s asset management subsidiaries.



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