Merrill Lifer of 46 Years Joins Raymond James
A Tennessee broker who had spent his entire 46-year brokerage career at Merrill Lynch has joined the employee branch channel of Raymond James Financial.
Harvey P. Cook and his son, Phillip M., made the move from Merrill’s Germantown branch on August 23 to RayJay Memphis branch, according to their BrokerCheck histories. The pair generated at least $1.5 million in annual revenue at Merrill, according to a source familiar with their book.
“We’re glad to have him,” said Raymond James’ Memphis branch manager David Rains. “He’s got a fabulous reputation here in the area, and we’re thrilled he’s chosen us.”
The elder Cook joined Merrill in 1972 and held “various management positions during his extensive career” there, according to his LinkedIn profile, including serving as sales manager in Orlando and in Baltimore and as resident vice president in Boston and Memphis.
He declined to comment on the reason for his move after his long history with the firm. His son, who began his brokerage career in 2012 at Sterne Agee & Leach in Atlanta and joined his father at Merrill three years later, also declined comment.
Merrill last week lost another team that had spent its brokerage careers with the firm and were managing $426 million from its Greenwich, Conn. branch. Joseph Chu, the head of the team, said he felt constrained by growing restrictions the firm was imposing on discretionary management of client accounts. The advisors and two associates joined RBC Wealth Management-U.S.
A Merrill spokesperson did not immediately respond to a request for comment on the move in Memphis.