Every week, Financial Planning rounds up
Advisor moves: LPL gets $2.1B team from RayJay; Merrill pulls from Morgan Stanley, Wells Fargo
October 4, 2024 4:16 PM
LPL goes to Raymond James to draw $2.1B team
LPL Financial has pulled over a 22-person team that formerly managed $2.1 billion for Raymond James in the Houston area.
LPL announced Thursday the recruitment of The Noble Group, a nearly 30-year-old firm based in Sugar Land, Texas. The firm was founded in 1996 by Tom Noble, who is now retiring.
The Noble Group will now be led by Joseph Rose, who has 11 years of industry experience. Other members include the financial advisors Britton Noble (Thomas's daughter), Paul Massey, Mary Cardenas, Arnold "Rick" Riley, Jared Kenney and Jeffrey O'Brien, as well as 13 employees on the firm's support staff.
The team joins LPL amid a tumultuous week. The firm announced Tuesday thatits board had fired its long-time CEO Dan Arnold. LPL's ambitious growth plans now fall to Interim CEO Rich Steinmeier, who was most recently chief growth officer for the firm.
LPL came in at the No. 1 spot among the largest independent broker-dealers as measured by annual revenue inFinancial Planning's latest IBD Elite ranking .
LPL announced Thursday the recruitment of The Noble Group, a nearly 30-year-old firm based in Sugar Land, Texas. The firm was founded in 1996 by Tom Noble, who is now retiring.
The Noble Group will now be led by Joseph Rose, who has 11 years of industry experience. Other members include the financial advisors Britton Noble (Thomas's daughter), Paul Massey, Mary Cardenas, Arnold "Rick" Riley, Jared Kenney and Jeffrey O'Brien, as well as 13 employees on the firm's support staff.
The team joins LPL amid a tumultuous week. The firm announced Tuesday that
LPL came in at the No. 1 spot among the largest independent broker-dealers as measured by annual revenue in
Merrill pulls advisors with more than $1.5B in AUM from Morgan Stanley, Wells Fargo
Merrill has brought over three teams collectively managing more than $1.5 billion for its wirehouse rivals.
Merrill drew Kevin Ou and Michael Baghramian, formerly of the Peninsula Group at Morgan Stanley, to its offices in Rolling Hills Estates in Los Angeles. The pair had previously managed $700 million in client assets.
Ou started his career at Morgan Stanley in 2008 and Baghramian started his there in 2007. Both left for a stint at UBS before returning to Morgan Stanley in 2015. Joining them at Merrill is Hilary Hughes, a client associate.
Separately, Merrill went to Morgan Stanley again to recruit Elana Ginsburg to its Century City office in Los Angeles. Ginsburg, who previously managed $660 million, is joining Merrill Private Wealth Management, which works with high net worth clients.
Ginsburg started her career at Morgan Stanley in 2009. At Merrill, she will work under Jeff Wood, a regional managing director.
And in the Miami area, Jeremy Burch is joining Merrill from Wells Fargo's offices in Coral Gables, Florida. Burch, who previously managed more than $200 million in client assets, started at UBS in 2000 and then went to Morgan Stanley before joining Wells Fargo in 2016.
After taking several yearsoff from recruiting , Merrill has returned to trying to bring teams over from rivals. Merrill Wealth Management co-head Lindsay Hans has said the firm is open to offering generous recruiting deals in "the right markets."
Merrill drew Kevin Ou and Michael Baghramian, formerly of the Peninsula Group at Morgan Stanley, to its offices in Rolling Hills Estates in Los Angeles. The pair had previously managed $700 million in client assets.
Ou started his career at Morgan Stanley in 2008 and Baghramian started his there in 2007. Both left for a stint at UBS before returning to Morgan Stanley in 2015. Joining them at Merrill is Hilary Hughes, a client associate.
Separately, Merrill went to Morgan Stanley again to recruit Elana Ginsburg to its Century City office in Los Angeles. Ginsburg, who previously managed $660 million, is joining Merrill Private Wealth Management, which works with high net worth clients.
Ginsburg started her career at Morgan Stanley in 2009. At Merrill, she will work under Jeff Wood, a regional managing director.
And in the Miami area, Jeremy Burch is joining Merrill from Wells Fargo's offices in Coral Gables, Florida. Burch, who previously managed more than $200 million in client assets, started at UBS in 2000 and then went to Morgan Stanley before joining Wells Fargo in 2016.
After taking several years
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Raymond James adds advisors managing $600M from Merrill
Raymond James has turned to Merrill to pull a pair of advisors formerly managing $600 million.
St. Petersburg-based Raymond James announced this week the recruitment of Taryn Moll and Peter Henziak to its direct-employee channel, Raymond James & Associates. They were previously registered with Merrill in Irvine, California.
Their practice will now go by the name ofMoll Henziak & Associates of Raymond James . Moving with them are Rebecca Jonas-Engel, a client service associate; and Jiangyun "Julie" Dale and Matt Kearns, both senior registered client service associates.
Moll started in the industry in 1986 and was at Paine Webber for a year before joining Merrill in 1989. Henziak got his start in 2000 with Merrill.
Raymond James ranked as the No. 5 largest independent broker-dealer measured by annual revenue inFinancial Planning's latest IBD Elite list .
St. Petersburg-based Raymond James announced this week the recruitment of Taryn Moll and Peter Henziak to its direct-employee channel, Raymond James & Associates. They were previously registered with Merrill in Irvine, California.
Their practice will now go by the name of
Moll started in the industry in 1986 and was at Paine Webber for a year before joining Merrill in 1989. Henziak got his start in 2000 with Merrill.
Raymond James ranked as the No. 5 largest independent broker-dealer measured by annual revenue in
Dynasty adds advisory firm managing $700M to its network
Dynasty Financial Partners has added the investment advisory Matauro to its network of independent firms it supports through various technological and back-office services.
Matauro, based in New York, had previously managed more than $700 million for entrepreneurs, business owners, executives and other clients. It's led by its founders: CEO Matthew Klein, Chief Financial Officer Barrett Tabeek and Chief Operating Officer Steven Van Hooker. Joining them are Alexandra Fraser, managing director and principal advisor; and Eliran Abekassis, portfolio manager, as well as various staff members. Matauro was formerly affiliated with AXA Advisors, which has since become Equitable Advisors.
Dynasty now works with 56 independent firms and more than 400 advisors, who have $250 million in assets under management on average. Last week,it announced a number of changes at the executive level, including the appointment of Marc Hineman, most recently of the market data software and analytics company Pico, as its new chief operating officer.
Matauro, based in New York, had previously managed more than $700 million for entrepreneurs, business owners, executives and other clients. It's led by its founders: CEO Matthew Klein, Chief Financial Officer Barrett Tabeek and Chief Operating Officer Steven Van Hooker. Joining them are Alexandra Fraser, managing director and principal advisor; and Eliran Abekassis, portfolio manager, as well as various staff members. Matauro was formerly affiliated with AXA Advisors, which has since become Equitable Advisors.
Dynasty now works with 56 independent firms and more than 400 advisors, who have $250 million in assets under management on average. Last week,
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UBS pulls advisor managing $400M from Merrill
UBS has brought over an advisor who had been overseeing more than $400 million for Merrill in Manchester, New Hampshire.
Jared Berault, who has 13 years of industry experience, has joined UBS Wealth Management USA, the firm said in a press release. Berault started at Citigroup in 1998 and moved to Merrill in 2009. Coming with him to Merrill is Fred Kline, a client associate.
Jared Berault, who has 13 years of industry experience, has joined UBS Wealth Management USA, the firm said in a press release. Berault started at Citigroup in 1998 and moved to Merrill in 2009. Coming with him to Merrill is Fred Kline, a client associate.
Raymond James indie channel draws advisor from LPL
Raymond James has gone to its broker-dealer rival LPL for an advisor formerly managing $250 million in Rapid City, South Dakota.
Andrew "Taylor" Thompson is bringing his practice,Thompson & Co. Wealth Management , to Raymond James' independent channel, Raymond James Financial Services. He started his career in 2000 at A.G. Edwards, which ultimately became part of Wells Fargo in 2008. Thompson was also at Buffalo, South Dakota-based Financial Network Investment Corp. before joining LPL in 2006.
Andrew "Taylor" Thompson is bringing his practice,
RBC Wealth adds division head, reorganizes private client group
RBC Wealth Management has appointed a new division head amid a reorganization of its private client group into four units.
RBC Wealth, the U.S. wealth management arm of Royal Bank of Canada, said it has appointed Colin Hawkes to oversee its revamped western division, which consists of 34 branches in Washington, Oregon, California and Nevada. Hawkes, currently Pacific Northwest complex director, has 24 years of industry experience and came to RBC in 2023 after spending the bulk of his career at UBS.
Darryl Traweek, now west divisional director, will become the head of UBS's new Mountain South Division, consisting of 32 branches in Texas, Arizona, New Mexico, Nevada, Colorado, Utah, Idaho, Montana and Wyoming. Traweek has 38 years of industry experience and came to RBC's predecessor firm, Dain Rauscher, in 1994.
The other two divisions of RBC's private client group are the Central division, led by Wally Chapman, and the East division, led by Pat Vaughan.
RBC Wealth, the U.S. wealth management arm of Royal Bank of Canada, said it has appointed Colin Hawkes to oversee its revamped western division, which consists of 34 branches in Washington, Oregon, California and Nevada. Hawkes, currently Pacific Northwest complex director, has 24 years of industry experience and came to RBC in 2023 after spending the bulk of his career at UBS.
Darryl Traweek, now west divisional director, will become the head of UBS's new Mountain South Division, consisting of 32 branches in Texas, Arizona, New Mexico, Nevada, Colorado, Utah, Idaho, Montana and Wyoming. Traweek has 38 years of industry experience and came to RBC's predecessor firm, Dain Rauscher, in 1994.
The other two divisions of RBC's private client group are the Central division, led by Wally Chapman, and the East division, led by Pat Vaughan.
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Executive moves: UBS appoints market executive for San Francisco area
UBS has named Emily de la Reguera market executive for its San Francisco Market.
De la Reguera started at UBS in 2011, left for a little more than a year for Blackrock in 2014, and then returned to UBS in 2016. Over the years, she has worked in UBS's client solutions center and its global family office, lending and global partnership divisions, among others.
More recently, she was associate market executive for UBS's Mid Atlantic Market, where she worked closely with advisor teams, and then later the executive for the firm's Silicon Valley Market. In her new position, she will report to John Mathews, UBS division director for wealth management Americas and head of private wealth management.
De la Reguera started at UBS in 2011, left for a little more than a year for Blackrock in 2014, and then returned to UBS in 2016. Over the years, she has worked in UBS's client solutions center and its global family office, lending and global partnership divisions, among others.
More recently, she was associate market executive for UBS's Mid Atlantic Market, where she worked closely with advisor teams, and then later the executive for the firm's Silicon Valley Market. In her new position, she will report to John Mathews, UBS division director for wealth management Americas and head of private wealth management.
