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Merrill Lynch and Morgan Stanley Lose Advisors to Raymond James

By FA-IQ Staff January 2, 2018

Raymond James is building its ranks out West, adding advisors in Newport Beach and Honolulu.

The company recently recruited John DeRosa and Deanna DeRosa to the Newport Beach, Calif., office of Raymond James & Associates – the firm’s traditional employee broker/dealer. Separately, Linda J. Fulgenzi joins RJA in Honolulu and also serves clients in the Tucson, Ariz., office.

The DeRosas – a father-daughter team – join from Morgan Stanley, where they managed around $180 million for wealth management clients and retirement planning for individuals and families, corporate executives, and business owners.

John DeRosa started at Eastman Dillon & Co. in 1970, and moved on to stints at Paine Webber and Kidder Peabody before joining Smith Barney in 1999, which was acquired by Morgan Stanley in 2009. Deanna DeRosa entered financial services in 1994 at Kidder Peabody and subsequently spent four years at AEON Corporation in Japan before joining her father at Smith Barney in 1999.

Separately, Merrill Lynch has lost Fulgenzi to Raymond James. At Merrill, Fulgenzi managed around $113 million with over $1 million in annual production. She is joined at Raymond James by senior financial planning consultant Lane Nagano. Together the pair operate as Southwest Pacific Partners of Raymond James. The Honolulu branch is managed by Larry Goeas, and the Tucson office is led by Robert Burghart.

In 1987 Fulgenzi started in financial services with E.F. Hutton in Honolulu and stayed with the firm when it became part of Lehman Brothers and then Smith Barney. She moved to Merrill Lynch in 2008. She says her practice focuses on a “select number of individuals and multigenerational families,” as well as retirement planning services for several businesses.

Meanwhile, Raymond James has recruited financial advisors Glen Smith and Robert Casey to the firm’s independent broker/dealer in Flower Mound, Texas, according to a press release.

The advisors operate as Glen D. Smith & Associates and come from Merrill Lynch, where they previously managed $262 million.

In 2004 Smith began his career at A.G. Edwards. Casey has over a decade of financial services industry experience and prior to Merrill Lynch was at Wells Fargo Advisors and Edward Jones.