The Daily Brief
Raymond James

Family Team Managing $203 Million Depart Wirehouse for Raymond James

The head of the group has more than 35 years of experience.

A team of New Jersey-based advisors managing $203 million has left Morgan Stanley to join an independent broker/dealer.

O’Neill Wealth Management, a firm started 5 years ago by Thomas O’Neill and his two children, said last week it left the wirehouse to join Raymond James & Associates, the firm’s traditional employee b/d. The group works with a variety of clients, including business owners, corporate executives and healthcare professionals. It also manages corporate retirement plans, according to its website.

O’Neill has worked in financial services for more than 35 years, including stints at Merrill Lynch, A.G. Edwards and UBS.

His daughter and son, Jessica O’Neill and Thomas O’Neill Jr., who previously worked for Morgan Stanley, are joining him at Raymond James. Danielle Takacs, a senior registered client relationship associate, is also joining the team from Morgan Stanley.

The addition of O’Neill Wealth Management is the latest in a string of recruits to Raymond James, which is headquartered in Florida. A team of brokers in Manhattan managing more than $1 billion in client assets left Wells Fargo in August for Raymond James. Last month, a pair of brokers in Santa Rosa, Calif., managing $462 million, also left Wells Fargo for Raymond James.

Raymond James advisors are predominantly on the East Coast but the firm has made a concerted effort to expanded westward.

Tash Elwyn, who has been president of Raymond James & Associates since 2012 and was recently named CEO of the unit, told WealthMangement.com in August that the firm is on pace for a record level of recruiting this fiscal year.

Want The Daily Brief delivered directly to your inbox? Sign up for WealthManagement.com’s Morning Memo newsletter.

TAGS: People
Hide comments

Comments

  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Publish