Morgan Keegan, the Memphis, Tenn.-based regional brokerage firm, is expanding into the Washington, D.C. metropolitan area. It will open six new offices and hire around 50 financial advisors over the next two years.
The offices will be in Washington D.C., Bethesda, Md., Tyson's Corner, Va., Baltimore, and Alexandria, Va. Currently, the firm has one Maryland office in Rockville.
The expansion is being led by managing director Jim Dornan, 49, who joined the company in December 2010. Before joining Morgan Keegan, Dornan worked at Morgan Stanley Smith Barney, which he joined in 1992.
Hiring has already begun, Dornan said in a phone interview, with the majority to take place in the late first quarter, early second quarter. Dornan plans to recruit those with at least a few years of experience in financial planning.
Dornan said he's focused on the Washington area for the time being and couldn't speculate about other markets for expansion.
Write to Julie Steinberg