St. Petersburg, Fla.-based Raymond James has added a $2.9 billion team of advisors based in West Nyack, N.Y.
The Mahoney Group of Raymond James is led by managing director Chris Mahoney and includes financial advisors Kevin Mahoney, Mark Marotta, Kristen Koluch, and Phil Murphy, as well as a support team of seven specialists and associates. The group will join Raymond James' employee division.
The team previously represented Merrill Lynch, where they had annual revenues of $7.7 million.
"Leaving a firm where I had the opportunity to build and lead a successful team was bittersweet,” said Chris Mahoney in a statement on Tuesday. “But we have a long-established value proposition that our clients have come to expect and that we believe can be delivered partnering with Raymond James. With the firm’s genuine focus on putting clients’ interests first, supporting its advisors through enhanced technology and providing us the flexibility and control we need to serve our clients, it really was the best choice for us."
Mahoney joined Merrill Lynch in 1982 and spent his career with the firm focusing on retirement planning, estate planning, wealth transfer, portfolio planning and investment management.