Raymond James Adds 2 Ex-Wells Fargo Teams

"With almost 40 years of combined experience and commitment to a long-term, client-first approach, they are a great addition to our firm, and we look forward to supporting them as they grow their business," said Dick Ferguson, Southern division director of Raymond James and Associates, in a statement on Monday.

Walsh began his financial-services career in 1995 with Morgan Stanley and moved to Wachovia/Wells Fargo in 2005. Jaggers went into the advisory business at Morgan Stanley in 1999. He joined forces with Walsh in 2001, moving with him to Wachovia/Wells Fargo four years later.

"Raymond James … [is] a Private Client-focused firm which does not dictate to its advisors how to run their business or what products and services to recommend to our clients," explained Walsh in a press release. "We really liked the idea of independence and controlling our own destiny and were particularly impressed with the marketing support and sophistication we can utilize. Several of our peers, whom we respect, had moved to Raymond James and told us how satisfied they were – and now, since moving ourselves, we just couldn't be happier."

The recruiting of the two ex-Wells Fargo teams follows the news that, earlier this month, Raymond James brought over a team with $900 million in assets and $6.7 million in yearly production from JPMorgan (JPM) in New York, a team from Merrill Lynch (BAC) with $535 million in assets and production of $5 million in Beaver, Pennsylvania, and an advisor formerly with Stifel Nicholas in Oil City, Pennsylvania, with $191 million in assets and $1.2 million in annual fees & commissions.