Raymond James said today that it had recruited a Maryland advisory firm with $230 million in assets that had previously been working under the banner of LPL Financial.

The team is led by veteran advisor Tony Fusco, said Scott Curtis, president of Raymond James Financial Services, the company's independent broker/dealer. The team operates as Fusco Financial Associates, an independent firm in Towson, Md.

Fusco spent the last 16 years at LPL. He will be joined at Raymond James by his partner and son, Kevin Fusco, as well as financial advisor David Matthews, senior financial analyst Steven Moore, registered associates Donna Childress and Michelle Dumler, and client services associate Ascenza DiFerdinando.

An investment manager and financial planner, Fusco began his career in 1985 and founded his namesake firm in 1990 to specialize in retirement, investment and estate planning.

He said several factors played a role in his decision to align with Raymond James. “One was the firm’s dedicated bond desk, but most significant was the firm’s culture,” he said in a statement. “The personalized, service-first culture, combined with the resources of a Wall Street firm and my ability to continue to run an independent practice, while serving my clients’ best interests, were all very compelling.”

St. Petersburg, Fla.-based Raymond James Financial Services Inc. is a national investment firm providing financial services to individuals, corporations and municipalities through more than 3,100 financial advisors in 2,000 offices throughout the U.S.