The pair, who previously worked at Charles Stanley, join Nicola Tomlin, who set up the new business last month, as founding partners. Tomlin is also a former Charles Stanley investment manager

Raymond James has over 32,000 client accounts representing just over £6 billion ($7.5 billion) in total assets as at 30 June 2016.

Last week, the firm partnered with Neptune to launch a new discretionary fund management business called Equester Capital Management.