Raymond James Financial Services (RJFS) has recruited Dan Pimental from Goldman Sachs. He joins the firms independent broker/dealer business in Hingham, Mass. Pimental previously oversaw $600 million in client assets and generated $2.7 million in fees and commissions.
Raymond James independent arm has also recruited two advisors from Citigroup. Fernando Ereneta comes from Citigroups Lisle, Ill. branch where generated $1.3 million on $125 million of client assets. John OKeeffe joins from Citis Fairfield, N.J. branch where he oversaw $125 million in assets and generated $1 million in fees and commissions.
In addition, Raymond James has recruited Jason Dilauro from Merrill Lynch in Akron, Ohio, where he oversaw $250 million in client assets, and Glenn Buckingham from Wachovia Securities in Camden, N.J., where he managed $200 million in client assets.
Raymond James is recruiting more high-producing advisors than last year. According to the firm, their new recruits from the second quarter of 2009 (ending March 31) had gross revenue 72% higher than the advisors they recruited during the same period last year.
In these turbulent times in particular, financial professionals are looking for the stability a conservatively managed firm like Raymond James provides, yet one that allows them the independence to manage their own practice while putting clients interest first, said Bill Van Law, national director of business development for RJFS, in a statement.
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