Raymond James & Associates continues to emphasize expansion along the West Coast with the addition of a former Morgan Stanley manager who will open a new office in San Diego.

Raymond James has tapped Kevin Monaco to help the firm build out its Southern California presence. Raymond James currently has 10 offices in California and recently hired another former Morgan Stanley manager, David Wright, to open its first office in Seattle.

“As Raymond James looks to deliver on our objective of establishing a number of new RJA offices in the western part of the country, we are delighted to have hired such a proven talent as Kevin to represent us,” said Raymond James & Associates’ president, Tash Elwyn. “His experience in building and developing teams of advisors is just what we are looking for as we build out this market.”

Monaco began his career at Merrill Lynch in 1993. He moved to Morgan Stanley in 1997, became a non-producing branch manager there 10 years later and was most recently an executive director and business development manager. At Raymond James he will operate as a branch manager for the San Diego office.

He said that Raymond James will be signing the lease on the new office in the next few days, but he already has four or five potential recruits he plans to introduce to the firm’s headquarters in St. Petersburg.

Raymond James currently has around 6,300 advisors in its independent and employee brokerage.

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