February 9, 2015 / 4:48 PM / 3 years ago

ON THE MOVE-Raymond James unit hires two advisers from RBC

Feb 9 (Reuters) - Raymond James & Associates, a unit of Raymond James Financial Inc, said it hired two advisers from Royal Bank of Canada’s (RBC) wealth management division.

Paul Berman and Joshua Rosenzweig managed about $200 million in client assets at RBC and had about $2.6 million in annual fees and commissions, the company said.

The team, which will operate as 24/7 Investment Group of Raymond James, will be based in Los Angeles.

Berman began his career at Merrill Lynch, Pierce, Fenner & Smith and later worked at Drexel Burnham Lambert, Bear Stearns & Co, Prudential and Wachovia.

Rosenzweig has previously worked at Ameriprise Financial Services before joining Berman at RBC.

RBC could not be immediately reached for comment.

Reporting by Neha Dimri in Bengaluru

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