© 2020 Arizent. All rights reserved.

Raymond James entices away Morgan Stanley branch manager

Register now

Raymond James has poached yet more talent from Morgan Stanley by recruiting branch manager Chris Fils to lead the broker-dealer’s Suncoast Complex in Florida.

“The greater Sarasota market is one of the fastest growing markets in Florida and we’re excited to have Chris’ energy and leadership as we expand our presence in this important growth market,” says Patrick O’Connor, Raymond James’ Florida regional director in a statement

Fils, 31, was drawn to Raymond James for its community involvement, unique culture, and opportunity for growth and autonomy, he says.

“Raymond James fosters that entrepreneurial spirit, offering advisors book ownership and the flexibility to build their practices,” Fils says.

In his new role with Raymond James, Fils will be responsible for overseeing and growing the branches and providing support to the firm’s advisors.

While with Morgan Stanley Fils became one of the firm’s youngest branch managers. He was responsible for overseeing the San Francisco Bay Area, Los Gatos branch. Prior to that, he worked at Merrill Lynch in New York as a regional sales specialist. Morgan Stanley did not respond to a request for comment on Fils’ move.

Morgan Stanley and its fellow wirehouses have been watching advisors head for the exits, as planners say they prefer the greater freedom and flexibility of going independent or working for a firm that isn’t backed by a major bank.

Raymond James has been eagerly scooping up these individuals, pulling in advisors from Wells Fargo, Merrill Lynch and UBS, in addition to Morgan Stanley.

For reprint and licensing requests for this article, click here.