Raymond James is recruiting advisors from Merrill Lynch and Morgan Stanley to open its first employee advisor channel office in Anchorage, Alaska.
Keith Green will join Raymond James' employee advisor channel from Morgan Stanley, where he managed more than $290 million in assets, while Jon Coon is making the move from Merrill Lynch, where he managed about $308 million in assets . Counselors and their support staff are combining forces.
Raymond James & Associates Midwest Regional Director Michael O'Meara said he was “proud” to welcome the advisers and their teams and looked forward to working with them.
“The establishment of RJA's new Anchorage office underscores our continued commitment to expanding the firm's presence and capabilities across the US,” said O'Meara.
While several branches of Raymond James' independent contractor division are already established in Alaska, the Anchorage office marks Raymond James & Associates' first branch in the state. In a statement to WealthManagement.comO'Meara said he was “optimistic” about more growth in Alaska.
“We expect further interest in our value proposition of RJA's culture and extensive supporting resources now that it is an available choice for this market for the first time,” he said.
Green will become senior vice president of wealth management while leading Raymond James' Borealis Wealth Advisory. He will focus on business owners and non-profit organizations, assisted by investment portfolio associate Christian Deykes. Green began his career at Citigroup in 1997 before joining Morgan Stanley in 2009. according to FINRA records.
Coon joined the industry with brief stints at Citigroup and Morgan Stanley before settling for a 14-year career at Merrill Lynch. He is also a US Navy veteran with a business degree from the Naval Academy in Annapolis.
Earlier this week, Raymond James lured the trio of John Meffert, Warren Scroggie and Ross Davis to leave Merrill and join the firm's independent advisory channel. The Florida-based team managed approximately $490 million in client assets. At the end of February, Raymond James' independent channel also appeared to the Anderson McKelvey Groupa Florida-based team with $450 million AUM, from Merrill.
This was announced by Raymond James CFO Paul Shoukry will succeed current CEO Paul Reilly as the firm's leader in fiscal year 2025, part of a “multi-year succession planning process.”
The firm also promoted Tom Walrond heads the RJA, replacing Tash Elwyn, who was named president of the company's Private Client Group. In November, Raymond James announced this Shannon Reid would lead the firm's independent contractor division.