Raymond James has recruited a former RIA market director with wirehouse roots as its newest branch manager, the firm said.
David Richman now oversees Raymond James' San Diego branch, according to a spokeswoman. Richman came to the regional broker-dealer after a brief stint as an independent adviser at Comerica Securities, the spokeswoman says.
Richman started his career with Morgan Stanley in 1996, according to FINRA BrokerCheck records. He held several positions with the wirehouse before he ultimately became a complex manager in charge of 150 advisers and support staff, who oversaw approximately $8 billion in client assets, the Raymond James spokeswoman said.
The wirehouse advisers Richman oversaw also generated $110 million in annual revenue, according to Raymond James.
In 2013, he left the wirehouse to join Washington Wealth Management as the hybrid RIA's Los Angeles market director.
Pat Allison, Raymond James & Associates' Western division director, says Richman will expand the firm's presence in Southern California.
A spokeswoman for Comerica Securities was not immediately available for a comment.