Raymond James has snagged a two-member Morgan Stanley Smith Barney financial advisor team with $118 million in client assets in Illinois.
Tom Ford and Jeff Jones join Raymond James’s employee broker-dealer arm, Raymond James & Associates, in Peoria, Ill., and now operate under the name Ford Jones Group. Together, they previously had more than $800,000 in annual fees and commissions.
The team is the second from Morgan Stanley to join Raymond James this month, after the firm hired a three-member advisor team in New Jersey. Other Morgan Stanley advisors have also made news after opting for new firms this month, including one who signed on with Ameriprise in Scottsdale, Ariz., and three Morgan Stanley advisors who joined Stratos Wealth Partners in Utah.
“The most important factor for us in selecting a new firm was finding the right cultural fit,” Ford said in a statement. “Raymond James is exactly what we were looking for. The firm is structured to serve the advisor, and you can get assistance from a live person when you pick up the phone. That increased level of support from Raymond James helps us better serve our clients and manage our business.”
Ford and Jones have been registered with Raymond James since March 30, according to their public registration records with the Financial Industry Regulatory Authority, or FINRA. They report to John Kuklenski, North central division director at Raymond James & Associates.
Ford began his career E.F. Hutton in 1982, and stayed with the firm through subsequent acquisitions by Lehman Brothers, Citigroup and ultimately Morgan Stanley in 2009. Jones began working at Citigroup in 2004, and co-founded the team with Ford after the firm became part of Morgan Stanley.
Also joining Raymond James with their team is sales assistant Erika Burian.