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 be joining 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. The advisors and their support staffs are combining forces.
Raymond James & Associates Midwest Regional Director Michael O’Meara said he was “proud” to welcome the advisors and their teams and looked forward to partnering with them.
“The establishment of RJA’s new Anchorage office underscores our continued commitment to expanding the firm’s presence and capabilities across the U.S.,” O’Meara said.
While several branches of Raymond James’ independent contractor division have already been established in Alaska, the Anchorage office marks the first Raymond James & Associates branch in the state. In a statement to WealthManagement.com, O’Meara said he was “optimistic” about more growth in Alaska.
“We expect further interest in our value proposition of the culture and extensive support resources of RJA now that it is a choice available to this market for the first time,” he said.
Green will become a senior vice president of wealth management while heading Borealis Wealth Advisory of Raymond James. He will focus on business owners and non-profit organizations, aided 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 in for a 14-year career at Merrill Lynch. He is also a U.S. Navy veteran with a business degree from the Naval Academy in Annapolis.
Earlier this week, Raymond James enticed 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 about $490 million in client assets. In late February, Raymond James’ independent channel also scooped up the Anderson McKelvey Group, a Florida-based team with $450 million AUM, from Merrill.
Raymond James announced that CFO Paul Shoukry will succeed current CEO Paul Reilly as the firm’s leader in fiscal year 2025, part of a broader “multi-year succession planning process.”
The firm also promoted Tom Walrond to head RJA, replacing Tash Elwyn, who was appointed president of the company’s Private Client Group. In November, Raymond James announced that Shannon Reid would head the firm’s independent contractor division.