Two former UBS analysts will now work for Raymond James Financial.
ST. PETERSBURG — Raymond James Financial Inc. (symbol: RJF) hired away two South Carolina-based financial advisors from UBS today. Carolyn Edwards and Roy Seay manage $125 million in assets, generating $850,000 in annual fees.
The pair will operate as the Seay/Edwards Group of Raymond James out of Mount Pleasant, S.C., Raymond James said in a statement.
Both Seay and Edwards spent 11 years as divisional vice presidents with UBS before joining Raymond James. But in the end, a personal connection helped direct Seay's decision to switch firms.
“When we realized that Tom James and Dennis Zank personally knew Jimmy Bradford, who had been a mentor to me and many others, that connection had a big impact on us and we knew we had found a home,” Seay said in a statement.
Raymond James stock is up nearly 4% today, to a per-share value just above $39. The St. Petersburg-based financial company generated $256 million in profits on $3.0 billion in revenues in 2010.
In an October earnings call, executive chairman Tom James said Raymond James would be actively seeking to acquire smaller firms to add value to the company.