Raymond James adds $400M bank team to its financial institutions division

A team of advisers providing financial advice through a Texas bank has moved from Cetera Investment Services to Raymond James' financial institutions division. The group of seven advisers and seven assistants at First Financial Bank in Abilene, Texas, was affiliated with Cetera for 18 years, according to a statement released Tuesday by Raymond James. Combined, they managed more than $400 million in assets. "We look forward to providing the support they need as they continue to expand their investment program and offerings throughout Texas," John W. Houston, managing director of the financial institutions division at Raymond James, said in the statement. The move will allow First Financial Bank to provide its clients with more innovative financial products, Ronald Butler, executive vice president and chief administrative officer at the bank, said in the statement. First Financial Brokerage Services, the bank's investment arm, is the second team to join Raymond James' financial institutions division in the last three weeks. Cetera was not immediately available to comment on the move.