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Business Observer Tuesday, Jul. 26, 2011 10 years ago

Raymond James hires team

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The St. Petersburg firm hired two brokers away from Morgan Stanley.

ST. PETERSBURG — Raymond James & Associates, the brokerage subsidiary of Raymond James Financial (symbol: RJF), hired away a pair of Pennsylvania-based brokers from Morgan Stanley Smith Barney.

Brothers Thomas and Patrick Seller will join Raymond James' office in Newtown, Penn., a release says. While with Morgan Stanley, the Sellers managed more than $500 million in client assets.

Thomas Seller began working in financial services in 1990, starting out with Merrill Lynch, while Patrick started out with A.G. Edwards in 1995. Both moved to Morgan Stanley together in 2005.

Raymond James' asset management subsidiaries, including Raymond James & Associates, oversee roughly $37 billion in client assets.

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