Raymond James’ Alex. Brown division picked up five advisors managing approximately $700 million in client assets, according to the company.
The unit, which Raymond James bought from Deutsche Bank in 2016, serves high-net-worth and ultrahigh-net-worth clients. And like its corporate parent, Alex. Brown, has been trying to recruit talent from its rivals. Last year, the firm hired advisors managing more than $3.7 billion in assets.
“For advisors looking for a specific, sophisticated and boutique culture, Alex. Brown remains a top destination, and we look forward to continuing to grow the division throughout the U.S. in 2021,” Haig Ariyan, president of Alex. Brown, said in a statement.
Among the firm’s new hires are Christopher Murrle-Philippsen, previously with Wells Fargo, and Jose de la Lama, previously with Merrill Lynch. They’re both based in Miami.
Murrle-Philippsen had worked at Merrill Lynch and Citi before joining Wells Fargo in 2016. He has 19 years in the business, according to FINRA BrokerCheck.
De la Lama had worked at Merrill since 2011, having previously worked at Morgan Keagan until 2011, just prior to its acquisition by Raymond James. He started in the business in 2000.
Also joining Alex. Brown from Merrill Lynch is William Taylor. The Winston-Salem, North Carolina-based advisor had worked at Merrill since joining the industry in 2011, according to BrokerCheck.
In Atlanta, Alex. Bown recruited Lee Haverstock from Morgan Stanley. Haverstock started his career at Bear Stearns in 1994, moved to Smith Barney the following year and stayed with the company through its acquisition by Morgan Stanley.
Alex. Brown also picked up advisor Mark Murphy from Janney Montgomery Scott. Murphy, who is based in Washington, D.C. and has 34 years of industry experience, according to BrokerCheck. Murphy had been with Morgan Stanley and predecessor firm Smith Barney since 2000.
Raymond James fields 8,200 financial advisors across its independent and employee broker-dealer units. The firm has total client assets of $1.06 trillion.