According to press reports, the move set a new recruiting record for Raymond James, surpassing a $2.4 billion team that left Morgan Stanley to join Raymond James in Florida.
Advisors Chris Mahoney, his brother Kevin Mahoney, Mark C. Marotta, Kristen Koluch, and Phil Murphy joined the firm in West Nyack, N.Y., about 40 miles from Manhattan.
The team, which is led by Mahoney, generated $7.7 million in annual production, according to Raymond James.
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