Raymond James Sets Recruiting Record: $3B Team

Merrill Lynch lost a team managing more than $2.9 billion to Raymond James & Associates,

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.

Related Posts:

Broker Dealers Move to Banking Fueling Transitions?

Raymond James Sets Recruiting Record: $3B Team 

Those Deals Really Are Negotiable! - Adviser Attrition at Barclays

Transition Agreements are Negotiable - Even For Credit Suisse Brokers

Broker Independence: Morgan Stanley Advisors Join FiNet

Merrill Loses $800 Million in Assets to Independent Firm

---

The attorneys at Sallah Astarita & Cox  have decades of experience in representing brokers, and firms, in broker transition issues, and have represented brokers moving to and from every major firm, nationwide. For more information call 212-509-6544 or send an email.

Stock Loan Fraud Bites Firms

The investigation into stock loan practices and the trials that arose from that investigation did not gain much press, but the impact on the business practices surrounding stock loan programs are being felt. On Wednesday, FINRA announced fines, and suspensions against Raymond James and RBC for their alleged participation in the process.

FINRA - FINRA Fines Raymond James, RBC Capital Markets Corporation, Stock Loan Trader for Improper Stock Loan Practices

Raymond James snags high-earning Merrill team

Raymond James snags high-earning Merrill team: "A veteran Michigan-based brokerage team at Merrill Lynch & Co. Inc. that produces $2.7 million in fees and commissions has bolted to Raymond James & Associates Inc., saying its clients are concerned about the financial stability of Merrill."