A UBS team that managed more than $550 million in client assets left the wirehouse to join Raymond James & Associates, the firm said.

The group opened a new Raymond James office in Worcester, Mass. On the move were Stephen Erickson, Michael Martin, Scott Louder, Christopher Lussier, Diana Correa and Nancy Jones. Now operating as Elm Wealth Management, the team generated approximately $3 million in production while at UBS, according to Raymond James.

In a statement, Erickson said that they made the move because of Raymond James' culture and capabilities.

Erickson has nearly four decades of industry experience, having joined PaineWebber in 1977, according to BrokerCheck. He later worked for Dean Witter and Morgan Stanley before joining UBS in 2005.

Martin started his advisory career at Morgan in 1998. Louder has two decades of industry experience and joined Morgan in 1996. Lussier started his career at UBS in 2011.

Raymond James last announced new recruits in August. Among the firm's recent recruits is a husband-and-wife team that oversaw nearly $160 million in client assets. Dax and Amber Seale joined Raymond James in Dallas.

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