Lee Henderson and George Hutter, who managed $372 million at Merrill Lynch in New Orleans, La., have formed their own firm, the Henderson Hutter Group, and affiliated with the independent unit of Raymond James.
Their four-person staff made the move with them.
Mr. Henderson began his securities career in 2004 at Smith Barney, which was acquired by Morgan Stanley in 2009. He joined Merrill Lynch in 2010.
Mr. Hutter's career path was similar. He joined Smith Barney in 2008, stayed with the firm through its acquisition by Morgan Stanley, and moved to Merrill Lynch with Mr. Henderson in 2010.