ON THE MOVE-Raymond James hires MS adviser in Florida

Fri Dec 7, 2012 2:48pm EST

Dec 7 (Reuters) - Raymond James Financial Inc has expanded its broker force in Florida with a veteran hire from Morgan Stanley Wealth Management.

Adviser Victoria Azpurua moved to Raymond James after more than a decade at her old firm, where she managed $114 million in client assets. Azpurua joined Raymond James' Coral Gables office.

Azpurua, who had previously been an adviser with Raymond James in the late 1990s, started with Citigroup in 1998 and stayed with the firm after the merger of Citi's Smith Barney with Morgan Stanley's wealth business in 2009. The combined firm, Morgan Stanley Wealth Management, is majority owned by Morgan Stanley.

Morgan Stanley declined to comment on the departure.

Azpurua joined Raymond James & Associates, Raymond James' traditional employee broker-dealer. The company, based in St. Petersburg, Florida, also has an independent broker-dealer division in the United States and smaller brokerage units in Canada and Britain.

With its broker-dealer subsidiaries, Raymond James has more than 6,300 advisers managing $388 billion in client assets. The company's acquisition of Memphis-based brokerage Morgan Keegan in April added roughly 1,000 advisers.

Raymond James said on Thursday it added veteran adviser Tony Fusco in the Baltimore region from LPL Financial.

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