Raymond James Financial has hired a team of four former Morgan Stanley Wealth Management advisors in Maine, according to Reuters.
The advisors, Chris Rogers, Steve Guthrie, Dana Ricker and David Mitchell, now known as The Portland Harbor Group of Raymond James, had an annual revenue production of US$3.4 million and managed more than US$500 million in client assets.
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The group, which is based on Portland, Maine office and led by Rogers focuses on financial planning, retirement planning, risk management and legacy planning.
Guthrie and Rogers, who were most recently senior vice presidents at Morgan Stanley, have worked in the advising industry for nearly four decades and three decades, respectively.
The advisors were legacy Citigroup (C.N) Smith Barney advisers who joined Morgan Stanley Wealth Management after the merger of Morgan Stanley’s wealth unit and Citi’s Smith Barney in 2009.
The advisors have joined Raymond James & Associates, the company’s traditional employee broker-dealer division.
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By GlobalDataRaymond James has more than 6,300 advisers who manage roughly US$418 billion in client assets.
