When Raymond James inked a $930 million deal to acquire Morgan Keegan’s brokerage earlier this month, it immediately sparked industry speculation as to whether Morgan Keegan’s financial advisor force would stay.
“As we all the know, the minute the deal is announced, the piranhas of the recruiting world are attacking from all directions,” Raymond James Executive Chairman Thomas James said during a conference call immediately following the deal’s announcement. “We’re very realistic in this regard, even though we believe that the financial advisors obviously don’t lose a thing from staying with us.”
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