Raymond James has lured a team of two financial advisors from Morgan Stanley that managed more than US$180 million in client assets.
The team, which includes James Switzer and Eric Cobb, will join Raymond James Financial Services (RJFS) and will operate independently as Switzer Cobb Wealth Partners in Spartanburg, South Carolina with securities offered via RJFS.
The team previously had annual production in fees and commission of more than US$1.3 million.
Additionally, a registered planning associate and office manager, Kathy Coley, will also join the team.
Switzer joined Morgan Stanley in 2008 from Merrill Lynch, where he worked for 18 years, while Cobb also joined from Merrill Lynch, where he worked for 12 years.
Switzer said: "We felt the time had come to be an independent business and grow our own brand but we still wanted access to all the resources and support of a major firm.
"The service levels are tremendous and are enabling us to spend so much more time with our clients. We also appreciate the firm’s technology and back office support, while being in control of our own practice and destiny."
Roger Whitley, regional director for RJFS, said: "Their client-first and conservative values align with those of our firm, and we look forward to providing exceptional levels of support to them, their practice and, in turn, their clients."