Smith Barney has lost one of its veteran high-producing teams to Raymond James & Associates in Tampa, Fla.

Janet Nichols, Gregory Geegan and T.J. King oversaw a combined $700 million in client assets and generated $3 million in fees and commissions. Nichols and Geegan worked together for 15 years at Smith Barney. King joined their team 10 years ago.

Geegan says the small firm culture at Raymond James persuaded them to make the move. "We saw it as a way to get back to our roots. Bigger is not necessarily better," he says.

The team was also pursued by Morgan Stanley but, despite the lure of an attractive transition package, they decided that Raymond James was a better fit.

"We left a lot of money on the table to come to Raymond James but we felt it was the best move for our clients and ourselves," says Geegan.

He admits that he was nervous making the move but says that 98% of their clients moved with them. "We have very good relationships with our clients. We do a lot of face-to-face meetings and a lot of personal and social events," he says.

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