Raymond James & Associates is the New Home for $6.7mm Merrill Team with 152 Years LOS
We made this move for one overriding reason: It will meaningfully enhance the quality of work we are able to do for our clients while also enhancing our team members’ lives as well.
Mark Moyer, Managing Director
Moyer Group Wealth Management of Raymond James
Mark Moyer, a Resident Director (Producing Manager) at Merrill, and his family-based team were firsthand witnesses to changes that ensued once Bank of America took over. With 152 years of experience at Merrill collectively, they remained faithful to their family’s legacy at the firm, that is, until the challenges of change became too strong. Growing requirements to bring in additional households, new hurdles, and the burdens of compliance ultimately overshadowed the strong brand and culture at Merrill that their multi-generational business was built upon.
The overarching concern was how the growing bank-dominated culture would impact the long-term future of the business—and if it would foster an environment in which they could successfully serve clients and grow their practice.
Even with the team’s incredible growth record, their non-core “community” market (Zanesville, OH) seemed to put them at a disadvantage at Merrill. That is, it often felt like resources were being diverted to other markets within the bank’s core footprint.
It would have been easier for Mark and his brother, Steven, to stay put, but for the benefit of their kids (Beau and Ryan Moyer) and the generations to come, they sought a firm they could grow into and which would support them for many years to come.
At Raymond James & Associates, they found a firm that was invested in their growth, with an advisor-centric culture—worlds apart from the top-down style they were experiencing more recently at Merrill.
But it was the ability to own their book of business and the true feeling of “business ownership” that was most attractive to Mark and the team—with the added benefit that comes with the support and scaffolding of a W-2 model.
Ultimately, the Moyer Group found a new home at Raymond James, with all of the features they were seeking – plus a respected brand, strong platform, top-notch technology, and the ability to communicate more freely – to drive their multi-generational business well into the future.
Diamond Consultants is pleased to have guided Mark and the Moyer Group toward their best business lives—and looks forward to hearing about their success with Raymond James over the coming years.