Raymond James Snaps Up $220 Million Merrill Lynch Trio In Its Native State

Josh O'Neill

17 March 2017

Raymond James has recruited a team from Merrill Lynch that previously managed around $220 million in client assets to join its office in Stuart, Florida, the firm’s native state.

David Lum and Michael Piazza joined from Merrill Lynch where they also commanded annual fees and commissions of more than $1.7 million. Registered sales associate Theresa McMasters also joined the firm. The trio operate as Lum Wealth Management of Raymond James.

The Stuart office is managed by Bill Romans and is part of the Florida East Coast complex, led by Dan Kraus.

Lum began his financial services career in 1981 as a legal and compliance auditor with EF Hutton in New York. In 1988, he joined Prudential Securities as a financial advisor and moved to Merrill Lynch in 1999.

Piazza started out as an intern with Merrill Lynch in 2010 during his off-seasons as a professional baseball player. He became a full-time financial advisor in 2015.

“We are delighted to welcome David, Mike and Theresa to our firm and our Stuart office,” said Patrick O’Connor, Florida regional director for Raymond James Associates. “Attracting a veteran financial advisor like David, with his years of experience, outstanding reputation and credentials, is a testament to the broad range of support and resources he and his team will find here at Raymond James.”