Raymond James Picks up California Wirehouse Vet to Run Modesto Branch
Raymond James Financial’s employee brokerage channel has tapped a veteran manager from Merrill Lynch Wealth Management to lead its Modesto, California, office.
Jana Adele Carlson, who has worked in the brokerage industry for 33 years but for fewer than two at Merrill Lynch, joined Raymond James & Associates on April 2, according to BrokerCheck.
She confirmed in a brief interview that she has joined as a non-producing manager, a role that she was eager to return to following her Merrill sojourn, but referred requests for further comment to Nathan Clakley, Raymond James’ San Francisco Bay area complex manager.
Her arrival allows Clakley to add another notch to his recruiting belt at Merrill’s expense. Last summer, he furthered RayJay’s mission of raising its West Coast profile by helping to recruit Michael W. Faircloth II and his junior partner Edward “Eddie” Martin to the Modesto branch after Faircloth’s eight-year term with Merrill.
“She brings a wealth of experience to the role, and we’re excited to have her be a part of the Modesto office,” Clakley said. “Her primary role will be to serve the advisors and introduce Raymond James to the marketplace.”
Both Merrill and Raymond James remain members of the Protocol for Broker Recruiting, which permits advisors to move among signatory firms with some rudimentary client-contact information from their former firms. Morgan Stanley and UBS pulled out of the pact late last year, making it more difficult for rivals to recruit from them.
Carlson moved to Merrill in 2016 to return to production after almost 15 years at the Pleasanton branch of Morgan Stanley and its predecessor Smith Barney. Her primary motivation was her need for a shorter commute from her home, Clakley said.
At Raymond James, she will replace Modesto branch manager Michael Grover, who remains a producer at the branch, according to Clakley. The branch includes seven brokers, three service associates and an operations specialist, according to its website.
Carlson launched her brokerage career in November 1984 at Merrill, remaining there for more than 15 years before joining Smith Barney’s Modesto office in February 2000, according to her BrokerCheck record.
A Merrill Lynch spokeswoman declined to comment.