In 2016, Raymond James acquired Deutsche's U.S. private client services unit, operating under the Alex.

Alexander Brown (1764–1834), an Irish linen merchant, emigrated in 1800 from Broughshane, near Ballymena, in Ulster to the United States, settling in Baltimore, Maryland, where he established the first investment banking firm in the U.S.[1] In 1808, the company organized the first initial public offering in the U.S., that of the Baltimore Water Company.

[1] In 1810, Alexander Brown was joined in business by his sons, William, George, John, and James, and the firm was named Alex.

Brown and Sons withdrew from most of its lending business and chose to focus on currency exchange, investment banking, and international trade.

September 2016 marked a new chapter for Alex Brown Wealth Management when it was officially sold to Raymond James.

[6] The company provides a range of advisory, brokerage, research, and investment services to high-net-worth individual investors in the US.