Top Financial Firms Battle for Talent in California
- Merrill Lynch advisors managing $600 million assets decamp for Raymond James
- Raymond James hires California advisory team from Merrill Lynch
- Team led by Taryn Moll and Peter Henziak joins Raymond James & Associates
- Moll and Henziak both dually registered as investment advisors and brokers
- New employer offers compelling support structure for financial planning and wealth management
- Raymond James’ focus on advisor support and high-quality service attracts team
Raymond James has poached a team of advisors from Merrill Lynch, managing around $600 million in assets. The team, led by Taryn Moll and Peter Henziak, includes support staffers Rebecca Jonas-Engel and Matt Kearns. They have joined Raymond James’ employee channel as Moll Henziak & Associates. Merrill Lynch has been losing talent to competitors due to its lack of technological advancements. Raymond James offers a more innovative environment for financial services, attracting advisors seeking cutting-edge technology. The team will be based in Irvine, California.
Factuality Level: 8
Factuality Justification: The article provides accurate and relevant information about the advisory team’s move from Merrill Lynch to Raymond James, their background, and reasons for the switch. It also includes quotes from the team members explaining their decision. However, it lacks some context on the financial industry trends or market conditions that may have influenced this change.
Noise Level: 3
Noise Justification: The article provides relevant information about a team of advisors moving from Merrill Lynch to Raymond James and their reasons for the switch. It includes quotes from the advisors themselves and mentions the company’s focus on technology and support structure. However, it lacks in-depth analysis or exploration of broader industry trends or consequences of this move.
Public Companies: Raymond James (RJF), Merrill Lynch (BAC)
Key People: Taryn Moll (Advisor), Peter Henziak (Advisor), Rebecca Jonas-Engel (Client Support Staff), Jiangyun ‘Julie’ Dale (Client Support Staff), Matt Kearns (Client Support Staff)
Financial Relevance: Yes
Financial Markets Impacted: Raymond James & Associates and Merrill Lynch
Financial Rating Justification: The article discusses the hiring of a California advisory team away from Merrill Lynch by Raymond James, which impacts both companies and their financial operations. It also mentions the reasons behind the move, such as better support structure, technology offerings, and focus on client service.
Presence Of Extreme Event: No
Nature Of Extreme Event: Other
Impact Rating Of The Extreme Event: Minor
Extreme Rating Justification: There is no extreme event mentioned in the article. The main topic is a financial decision made by advisors to switch from Merrill Lynch to Raymond James.
Move Size: No market move size mentioned.
Sector: Finance
Direction: Up
Magnitude: Small
Affected Instruments: Stocks
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