Raymond James & Associates recruited a branch manager from Waddell & Reed for a newly created position overseeing the firm's growing complexes, a spokeswoman said.
Peter H. King will oversee about a dozen advisors as the firm's Minneapolis-based Minnesota complex manager, according to the firm. King will report to John Kuklenski, Northern Division director of firm's employee channel.
"It's exciting to have such an experienced and proven manager as Peter join the Raymond James team and help us continue our expansion in the Midwest," Kuklenski said.
King joined Waddell & Reed in 2013 and oversaw a team of about 60 advisors managing approximately $3 billion in client assets and $17 million in annual revenue, Raymond James said. He had come to Waddell & Reed via Merrill Lynch, where he started his career in 1996, according to FINRA BrokerCheck records.
After six years in the Army, King joined the wirehouse and rose up the ranks to become complex director of the firm's St Paul, Minn. branch. King came to manage close to 100 advisors with about $11 billion in client assets and $76 million in production, Raymond James said.
The St. Petersburg, Fla.-based firm has been on an aggressive recruiting push. During the third quarter, the firm said it added 123 advisors. The independent network grew by 65 advisors to reach 3,487. The employee side added 45 advisors to reach 2,541.
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