Raymond James nabs breakaway teams from Wells Fargo, Morgan Stanley

Raymond James has extended its recruitment streak further as it welcomes two new former wirehouse teams to its employee advisor channel.

The latest additions to Raymond James & Associates in Ohio and Florida join the firm from Wells Fargo and Morgan Stanley, where they collectively oversaw more than $1 billion in client assets.

On Wednesday, the firm welcomed a four-person team from Wells Fargo to its Perrysburg, Ohio branch. The group – which include Marcus Jones, Eric Sommers, Michael Foster, and Christine Rutherford – operated under the name Foster Jones Sommers Investment Group before joining Raymond James.

They are accompanied by two client service professionals, Christie Watson and Abbey Cymbola.

According to Raymond James, the team previously managed about $769 million in client assets and serves a broad range of clients including family offices, endowments, foundations, and corporate executives.

Jones began his financial services career in Prudential in 1995 and spent over 16 years at Wells Fargo. Sommers and Foster both also started their careers at Prudential, then eventually went on to spend more than a decade and a half at the wirehouse.

Rutherford, the most recent entrant to the industry, joined Wells Fargo five years ago.

In a statement, Jones, who's taking a managing director role at RJA, highlighted the firm's "culture of independence, dedication to high-quality investment research and resources," as well as its "technology and wealth management capabilities." 

Meanwhile in Florida, the firm welcomed Kevin Walker to its RJA office in Naples.

Walker joins from Morgan Stanley, where he managed more than $260 million in assets. He leads Walker Walls Wealth Management alongside advisor Danielle Walls and senior client service associate Courtney Gayle.

Walker has more than 35 years of experience and had been with Morgan Stanley since 2008. He began his career as a registered broker with Fidelity before a five-year stint at Prudential, according to his BrokerCheck profile.

The team’s client base includes corporate executives, high-net-worth families, and individuals navigating sudden liquidity events.

RJA's additions in Ohio and Florida extend a burst of breakaway recruitments this month that began with a $740 million Merrill Lynch team in Alaska, followed by an $828 million group from RBC.

Raymond James also added to its independent advisor ranks this week as it welcomed an ex-Edward Jones team in San Diego, California.