A Morgan Stanley team with $1 billion in client assets has moved to Raymond James, the firm said.
Advisors Daniel Roland and Jason Miyashita, operating as the Asia Pacific Group, joined the firm's newly opened office in Maite, Guam. The team generated nearly $3 million in annual production at the time of their departure from Morgan Stanley, according to Raymond James.
When asked about the move, a spokesman for Morgan said the firm is closing its office in Guam. The spokesman declined to offer additional comment.
"This team marks the first advisors to join Raymond James & Associates in Guam,” says Rick Sanchez, the firm's West Coast regional director. “We anticipate growth in Guam through internal development of the team and by attracting new professionals to The Asia Pacific Group, and we look forward to continuing this momentum and growing the firm’s presence in the Pacific."
The Asia Pacific Group will provide clients investment services to public funds, endowments, foundations, corporations and high-net-worth investors that focus on managed money, wealth management, estate planning and retirement and education planning.
Roland, the team's managing director and senior institutional consultant, got his start in the financial securities industry with Johnston, Lemon in 1979, according to FINRA BrokerCheck records. His career incudes stops at E.F. Hutton and Lehman Brothers. He joined Smith Barney in 1993, staying through that firm's merger with Morgan Stanley, according to FINRA records.
Miyashita had worked for Citigroup before moving with Roland to Morgan Stanley in 2009, according to FINRA.
New to the team is Guam native Maree C. Pelkey. Pelkey has been appointed to vice president of investments, according to Raymond James. Client Service Associates Amber Leon Guerrero and Tiffany C. Walsh also join the team in their move, the firm says.
Los Angeles Complex Manager Chris Horner and Beverly Hills, Calif. Branch Manager Andy Waldbaum will support the Asia Pacific Group.
A Wells Fargo team with $150 million in AUM recently moved to Raymond James Financial Services, the firm's independent broker-dealer, in Burlington, N.C.