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Merrill Lynch Loses $180M Duo to Raymond James

March 6, 2018

A team of financial advisors overseeing $180 million has left Merrill Lynch for Raymond James Financial Services, FA magazine writes.

Taylor Adams and Annie Norris join Raymond James’ Little Rock, Ark., office as Southern Wealth Group, according to the publication. Adams and Norris produced $1.5 million annually, serving individual clients, business owners and families, FA magazine writes. Adams, who’d started in the industry at Edward Jones, had spent 14 years with Merrill Lynch, while Norris had spent her entire 31-year financial services career at the wirehouse, according to the publication. Adams and Norris are joined by senior client representative Teresa Ammons, FA magazine writes.

Raymond James has lured away several reps from Merrill Lynch in recent months. Since December, the wirehouse has lost several advisors managing at least $562 million to Raymond James Financial Services, the firm’s independent broker-dealer, and a rep managing $113 million left for Raymond James & Associates, the firm’s traditional employee broker-dealer.

In February, UBS lost a rep overseeing $200 million to Alex.Brown, a division of Raymond James.

The same month, Steward Partners Global Advisory, the employee-owned independent partnership associated with Raymond James Financial Services, picked up three Wells Fargo Advisors reps collectively overseeing $170 million.


Morgan Stanley, meanwhile, lost a father-daughter team of advisors overseeing $180 million to Raymond James & Associates in December.

By Alex Padalka
  • To read the FA Magazine article cited in this story, click here.