Raymond James Adds MSSB Team of Advisers

A team of advisers from Morgan Stanley Smith Barney (MSSB) left the brokerage to open their own firm with Raymond James Financial Inc.’s independent broker/dealer in Ohio.

Bill Carmel, an adviser with six decades of experience, moved with his sons, Todd Carmel and Donn Carmel, and son-in-law, Mario Quintero, to Raymond James. The advisers managed more than $400 million in client assets at Morgan Stanley Smith Barney.

Their firm, Carmel Quintero Financial Services, is a part of Raymond James Financial Services, the company’s independent broker/dealer that caters to advisers who are also business owners.

The four advisers, all legacy Smith Barney, are in Westlake, Ohio. Bill Carmel began his career with Field Richards & Co, moving in 1964 to McDonald Investments, where he eventually served as chairman and chief executive.

Todd and Donn Carmel became advisers in 1995 when they joined their father at McDonald. All three moved together in 2005 to Citigroup’s Smith Barney to join Quintero, who had been with the firm since 1988.