Raymond James' indy arm recruits husband-and-wife adviser team in Houston

A husband-and-wife team of advisers that managed more than $170 million in client assets at Morgan Stanley in Houston have left to join Raymond James Financial Services Inc., the independent broker-dealer arm of Raymond James Financial Inc., the broker-dealer holding company, according to a statement by the firm. The duo, Wayne and Theresa Green, operate as Sage Street Financial Advisors, according to the statement. Mr. Green was with Morgan Stanley since 2009, according to his BrokerCheck report, and prior to that worked at Smith Barney, which Morgan Stanley acquired from Citigroup during the credit crisis. Similarly, Ms. Green joined Morgan Stanley after it acquired Smith Barney in 2009. According to BrokerCheck, both joined Raymond James Financial Services in May but the company did not announce the move until Thursday. Raymond James Financial Services has recently seen success in recruiting. The firm ends its fiscal year in September. During fiscal 2016, the firm recruited advisers who generated close to $150 million in annual revenue, known as the "trailing 12" in the industry, for its best year ever, said its president, Scott Curtis, in Orlando in April during the firm's annual meeting of advisers. That was an increase of 34% compared to fiscal 2015, when the firm recruited advisers who generated $112 million in annual revenues.