Raymond James swipes $514M trio from Morgan Stanley

Raymond James has enriched its employee advisor division yet again as a pair of Morgan Stanley advisors join the unit in a key Florida location.

Raymond James & Associates has announced the addition of The Grubb Group, an advisory team managing over $514 million in client assets, to its Sebring, Florida, office.

The team, previously with Morgan Stanley, is led by financial advisors Dale Grubb, Matthew Grubb, and Corbin Hoffner. Now operating as the Grubb Group of Raymond James, they are supported by practice business manager Joella Libero and senior client service associate Leighann Hylan.

“Our decision to transition to Raymond James was driven by a desire to enhance client service, particularly in a close-knit community like Sebring,” Dale Grubb, managing director, said in a statement. “The platform’s accessibility and value allow us to better help clients achieve their goals, while the firm’s cultural integrity and succession planning provide confidence in our future.”

The Grubb Group brings over 50 years of combined experience and serves a diverse clientele, including business owners, retirees, agricultural professionals, and nonprofit organizations.

Dale Grubb, who boasts 40 years of industry experience as a registered broker, began his career in 1984 and spent 15 years at Morgan Stanley. His son, Matthew Grubb, who most recently served as a senior vice president of investments, joined the industry in 2017. Hoffner, a vice president of investments, began his financial services career at Morgan Stanley in 2020.

Gregg Stupinski, regional director for Raymond James’ South Atlantic division, expressed confidence in the team’s alignment with the firm’s values. “We are pleased to welcome Dale, Matthew, and Corbin to Raymond James,” he said. “Their dedication to personalized client service is well supported by our advisor-focused culture and resources.”

Raymond James' move in Florida extends the list of Morgan Stanley defectors it's welcomed this year, which started when the $340 million Behar-Nagel Group joined RJA’s Hallandale Beach, Florida office in February. In the biggest of those moves, the Takahashi Group, which oversaw $1.5 billion at Morgan Stanley, strengthened RayJay's Las Vegas presence in July by joining its independent advisor division, Raymond James Financial Services.