Merrill Vets in Seattle and New Orleans Join Raymond James
(Corrects to eliminate reference to Phil Scott team in Seattle and updates with comments from Lovell in second-to-last paragraph.)
Raymond James Financial has scored two veterans from Merrill Lynch in recent weeks, picking up a longtime complex manager in Seattle and a New Orleans broker with over two decades in the industry.
Timothy F. Burnett, who was in charge of seven Merrill Lynch offices in and around Seattle, resigned last week after 17 years at the company, according to two sources familiar with the move. He will move to the East Coast to take a position in Florida-based RayJay’s employee channel after a Merrill-imposed “garden leave,”
Burnett, who has been with Merrill since 2002 following his rookie three years with John Hancock Mutual Life Insurance Company, could not be reached for comment.
He would be at least the third wirehouse manager recruited this year by Raymond James. Gregg Stupinski, a complex manager in Naples, Florida who had been with Morgan Stanley and Smith Barney for 24 years, joined RayJay in Jacksonville earlier this month, according to his BrokerCheck record. William Drew, another 24-year veteran of those firms, left his post as Boston-area complex director in February to expand RayJay’s small group of New England branches.
A Merrill spokeswoman did not return a request for comment on Burnett.
In New Orleans, Raymond James two weeks ago hired Willis “Andy” Lovell, a broker who has spent half of his 22-year career with Merrill, according to his BrokerCheck record. Prior to joining the Thundering Herd, he worked for seven years at UBS Financial Services and three years at J.C. Bradford & Co.
Reached at his Raymond James branch on New Orleans’ Poydras Street, Lovell said he had been managing $177 million in assets at Merrill but left seeking more flexibility in running his practice. His less experienced Merrill teammates—Michael Minvielle and Drew Necaise—remain at the Bank of America-owned firm, according to their BrokerCheck records and a person answering the phone at Lovell’s old office.
Neither Minvielle nor Necaise, who began their brokerage careers about four years ago at Merrill, returned calls for comment, and a Merrill spokeswoman did not respond to a request for comment on Lovell.