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FUNDRAISING NEWS | February 20, 2024

Raymond James Adds $340M Former Morgan Stanley Team

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Raymond James has added two financial advisors, David Behar and David "Dave" Nagel, from Morgan Stanley, forming the Behar-Nagel Group within Raymond James & Associates in Hallandale Beach, Florida. The duo, specializing in serving business owners, executives, family offices, and pre-retirees, managed approximately $340 million in client assets at Morgan Stanley. 

Behar has accumulated over forty years of expertise in banking and wealth management, having held positions at Israel Discount Bank, Multi Commercial Private Bank Switzerland, and Multi Commercial Private Bank. He ventured into the financial advisory field with Smith Barney in 1999, subsequently moving to UBS in 2005, and then to Morgan Stanley in 2014. On the other hand, Nagel initiated his career in wealth management at Morgan Stanley six years before their transition, following a six-year tenure at an employment screening firm.

The decision to join Raymond James was influenced by the firm's strong commitment to both domestic and international clients and its respect for advisors. This acquisition is part of a broader trend of Raymond James attracting several advisors from Morgan Stanley in recent months. 

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Written By: John Washington, Data Research Analyst

John Washington is the Data Research Analyst at Dakota.

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