Raymond James picks up $280 million adviser in Chicago

Raymond James Financial Inc. has recruited Alan Lazzara from William Blair & Co., picking up a financial adviser who oversees almost $280 million of client assets. Mr. Lazzara, who focuses on high-net-worth individuals and families in or near retirement, joined the firm's office in Chicago, according to a Raymond James statement Monday. He brought in more than $1.7 million in annual fees and commissions while a partner at William Blair. Raymond James has been aggressively recruiting financial advisers, ranking among the independent broker-dealers that hired the biggest teams during the first quarter, data gathered by InvestmentNews show. Mr. Lazzara joined the firm's traditional employee broker-dealer unit, Raymond James & Associates, after working for about 29 years at William Blair, according to the statement. "I was attracted to Raymond James for many reasons but chief among them was the firm's conservative financial management – that's important to my clients – along with its very broad research capabilities,” Mr. Lazzara said in the statement. He also pointed to the St. Petersburg, Fla.-based firm's technology as part of his decision. Tony Zimmer, a spokesman for Chicago-based William Blair, declined to comment.