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Merrill Lynch Loses Advisors With $600 Million to Raymond James, Stifel

·2 min read
Merrill Lynch Loses Advisors With $600 Million to Raymond James, Stifel
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Two former Merrill Lynch teams managing more than $600 million in assets left the wirehouse to join competitors Raymond James and Stifel Financial, the firms said. The hires come during an increasingly hot recruitment market that has been a boon for advisors looking to change employers, but has been a challenge for firms’ hiring efforts. Beavers Wealth Management, a five-person team that managed $427 million in assets at Merrill Lynch, joined Raymond James & Associates, the firm’s employee advisor channel, according to an August 3 press release.