Advisers on the Move

Raymond James nabs $203 million team from Morgan Stanley

Raymond James is coming off several strong quarters of adviser recruiting

Sep 11, 2018 @ 2:00 pm

By Greg Iacurci

O'Neill Wealth Management, a Mount Laurel, N.J.-based advisory firm with $203 million in client assets, has left Morgan Stanley to join Raymond James & Associates, the firm's employee broker-dealer.

The advisory firm is comprised of a team of three advisers — Thomas O'Neill and his two children, Jessica O'Neill and Thomas O'Neill Jr.

(More: Raymond James, on a recruiting roll, looks for an acquisition in the West)

The elder Mr. O'Neill started the eponymous firm five years ago. He has 36 years in the securities industry, and aside from Morgan Stanley was formerly registered with the brokerage firms Merrill Lynch, A.G. Edwards, UBS and Citigroup, according to his BrokerCheck report.

Clients of O'Neill Wealth Management are predominantly business owners, physicians and high-net-worth families, according to a news announcement.

Raymond James Financial Inc., the parent of Raymond James & Associates, has demonstrated strong recruiting over the past few years. In 2017, it reported a nearly 6% increase year-over-year in adviser headcount. The firm said that as of June this year it had a record number of advisers — 7,719 — a gain of 6% year-over-year.


What do you think?

View comments

Recommended for you

Featured video


Envestnet Tamarac's Anderson: What's next for fintech?

Envestnet Tamarac is focused on broadening its offerings so it can gather more marketshare and craft more partnerships. Check out what Andina Anderson is examining so the company can do more for advisers.

Latest news & opinion

Ohio National offers buyouts, ends commission trails amid jumbled regulatory oversight of VAs

Jurisdiction is shared between the SEC, Finra and state insurance commissioners. Will any of them step in?

6 mistakes advisers make when onboarding new clients

Starting a new relationship with a client is harder than it looks.

10 states with lowest overall tax burden

Here's a list of the states with the lowest total tax burden from Wallet Hub.

7 surprising things Medicare doesn't cover

Gaps in Medicare's coverage can wreak havoc with a retiree’s budget, but here are some solutions to help your clients fill the gaps.

Step one: Withdraw from the broker protocol

Pulling out of the protocol proved to be one part of multipronged strategies by Morgan Stanley and UBS to reduce broker attrition. So far, their plans seem to be working.


Hi! Glad you're here and we hope you like all the great work we do here at InvestmentNews. But what we do is expensive and is funded in part by our sponsors. So won't you show our sponsors a little love by whitelisting It'll help us continue to serve you.

Yes, show me how to whitelist

Ad blocker detected. Please whitelist us or give premium a try.


Subscribe and Save 60%

Premium Access
Print + Digital

Learn more
Subscribe to Print