Advisers on the move: Morgan loses $1.2B team to Merrill
May 26, 2016 1:39 PM
Merrill grabs mega team
Two Morgan Stanley teams that oversaw $1.2 billion and $555 million in client assets have left the wirehouse to join Merrill Lynch.
But Merrill isn't the only firm reporting recruiting successes. Ameriprise recruited advisers who oversaw nearly $500 million in combined client assets and Stifel grabbed a Morgan team that managed $540 million.
See these and all the latest recruiting moves by clicking through our slideshow.
(Image: Bloomberg)
But Merrill isn't the only firm reporting recruiting successes. Ameriprise recruited advisers who oversaw nearly $500 million in combined client assets and Stifel grabbed a Morgan team that managed $540 million.
See these and all the latest recruiting moves by clicking through our slideshow.
(Image: Bloomberg)
$1.2B Morgan Stanley team jumps to Merrill Lynch
A former Merrill Lynch adviser has rejoined the firm with a new team and roughly $1.2 billion in combined client assets, the firm says.
Merrill rehired Andrew Zimmerman along with team members Edward Nabhan, his son Alexander, Megan Cooney and James McIntyre. The group operates from Merrill's Boston Financial Center office, the firm says.
To read moreclick here .
Merrill rehired Andrew Zimmerman along with team members Edward Nabhan, his son Alexander, Megan Cooney and James McIntyre. The group operates from Merrill's Boston Financial Center office, the firm says.
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$555M Morgan team joins Merrill
A Morgan Stanley team that managed $555 million in client assets has left the wirehouse to join Merrill Lynch, a spokeswoman said.
Larry Pohlen, Marc Terris and Michael Kasper operate as the Pohlen, Terris and Kasper Group and are based in Bloomington, Minn., according to Merrill.
To read more clickhere .
(Image: Bloomberg)
Larry Pohlen, Marc Terris and Michael Kasper operate as the Pohlen, Terris and Kasper Group and are based in Bloomington, Minn., according to Merrill.
To read more click
(Image: Bloomberg)
$540M team leaves Morgan for Stifel
A Morgan Stanley team that oversaw $540 million in client assets has left the wirehouse to join Stifel, according to the firm.
Veteran advisers Larry Watts, Casey Knowles, Robert Thompson and Brian Wilkinson are opening a new office for Stifel in Stockton, Calif.
The team generated $3.5 million in annual revenue, Stifel says.
To read more clickhere .
Veteran advisers Larry Watts, Casey Knowles, Robert Thompson and Brian Wilkinson are opening a new office for Stifel in Stockton, Calif.
The team generated $3.5 million in annual revenue, Stifel says.
To read more click
Ameriprise grabs advisers with $493M in combined AUM
Advisers who managed $493 million in combined client assets have joined Ameriprise, a spokeswoman said.
Among the firm's new recruits are ex-Morgan Stanley adviser Matthew Schrady, ex-Stifel broker Michael Maher and ex-Wells Fargo adviser Jamie Sutherland.
To read more clickhere .
(Image: Bloomberg)
Among the firm's new recruits are ex-Morgan Stanley adviser Matthew Schrady, ex-Stifel broker Michael Maher and ex-Wells Fargo adviser Jamie Sutherland.
To read more click
(Image: Bloomberg)
Raymond James grabs $2.8M team from Morgan Stanley
A team that generated $2.8 million in annual revenue has left Morgan Stanley to join Raymond James & Associates, the firm says.
Veteran advisers Robert Phinney, Graham Goodwin and Richard Byrd III joined Raymond James in Boston.
The team, which operates as Boston Capital Wealth Management, managed $332 million in client assets while with Morgan Stanley.
To read more clickhere .
Veteran advisers Robert Phinney, Graham Goodwin and Richard Byrd III joined Raymond James in Boston.
The team, which operates as Boston Capital Wealth Management, managed $332 million in client assets while with Morgan Stanley.
To read more click
HighTower grabs Merrill adviser with $315M in AUM
A Merrill Lynch adviser who managed $315 million in client assets was lured away by HighTower, the firm said.
Denver Gilliand signed on with HighTower to launch an office in Minneapolis. "When I did my due diligence process, I was really looking at what would be the best structure for the clients now and in the future," Gilliand says, citing HighTower's fiduciary business model as a key factor in the move, as well as its open-architecture and lack of proprietary products.
To read more click here.
Denver Gilliand signed on with HighTower to launch an office in Minneapolis. "When I did my due diligence process, I was really looking at what would be the best structure for the clients now and in the future," Gilliand says, citing HighTower's fiduciary business model as a key factor in the move, as well as its open-architecture and lack of proprietary products.
To read more click here.
Stifel entices away $250M team from Wells Fargo's FiNet
A team managing $250 million in client assets left Wells Fargo FiNet for Stifel’s employee channel, a spokesman confirmed.
Advisers Henry Berg and Glen Magloff opened a new office for Stifel in Jacksonville, Fla., making it the firm’s 20th office in the state.
It was an unusual move as advisers typically leave employee broker-dealers for the independent space, not the reverse.
To read more clickhere .
Advisers Henry Berg and Glen Magloff opened a new office for Stifel in Jacksonville, Fla., making it the firm’s 20th office in the state.
It was an unusual move as advisers typically leave employee broker-dealers for the independent space, not the reverse.
To read more click
Bloomberg News
Former Morgan Stanley advisers with more than $250M in combined AUM go indie with FiNet
Five advisers with more than $250 million in combined client assets left Morgan Stanley for the independent advisory channel at Wells Fargo, the firm said.
Among the new recruits are James Ritchie and Neil Thobani, who left Morgan where they oversaw almost $100 million in client assets to join an existing Wells Fargo practice in Irvine, Calif., the firm said.
Ritchie started in the financial services industry in 1997 with H.R. Block Financial Advisors, according to FINRA BrokerCheck records. His career includes stops at Smith Barney and Wachovia Securities before he joined Morgan in 2008. Thobani started his career when he joined the wirehouse in 2013, according to BrokerCheck.
To read more clickhere.
(Image: Bloomberg)
Among the new recruits are James Ritchie and Neil Thobani, who left Morgan where they oversaw almost $100 million in client assets to join an existing Wells Fargo practice in Irvine, Calif., the firm said.
Ritchie started in the financial services industry in 1997 with H.R. Block Financial Advisors, according to FINRA BrokerCheck records. His career includes stops at Smith Barney and Wachovia Securities before he joined Morgan in 2008. Thobani started his career when he joined the wirehouse in 2013, according to BrokerCheck.
To read more click
(Image: Bloomberg)
Raymond James Grabs $250M adviser from William Blair
A former William Blair adviser who managed $280 million in client assets has joined the employee side of Raymond James, according to a spokeswoman.
Alan Lazzara generated more than $1.7 million in annual production while he worked for William Blair, according to Raymond James. He now operates out of Raymond James' Chicago office.
Lazzara says he was drawn to Raymond James' conservative financial management, broad research capabilities and advanced technology. He had been with William Blair since 1987, according to FINRA BrokerCheck records.
To read more clickhere .
Alan Lazzara generated more than $1.7 million in annual production while he worked for William Blair, according to Raymond James. He now operates out of Raymond James' Chicago office.
Lazzara says he was drawn to Raymond James' conservative financial management, broad research capabilities and advanced technology. He had been with William Blair since 1987, according to FINRA BrokerCheck records.
To read more click
$225M team leaves Morgan to go indie
A veteran wirehouse team that oversaw $225 million in client assets left Morgan Stanley to join Wells Fargo Advisors Financial Network, a spokeswoman confirmed.
The team made the move to Wells Fargo's independent broker-dealer last week, according to FINRA BrokerCheck records.
Advisers Salvatore Pitti and his son Matthew were previously based in Morgan Stanley's Rochester, N.Y., office. They now operate as the Pitti Group Wealth Management in Victor, N.Y.
To read more clickhere .
(Image: Bloomberg)
The team made the move to Wells Fargo's independent broker-dealer last week, according to FINRA BrokerCheck records.
Advisers Salvatore Pitti and his son Matthew were previously based in Morgan Stanley's Rochester, N.Y., office. They now operate as the Pitti Group Wealth Management in Victor, N.Y.
To read more click
(Image: Bloomberg)
$200M Merrill team goes indie with Raymond James
A Merrill Lynch team that managed $200 million in client assets left the wirehouse to join Raymond James' independent channel, a spokesman said.
David Jackson and Martin Spears generated more than $1.8 million in annual production while at Merrill, according to Raymond James. They now operate as Southern Springs Capital Group, based in Nashville, Tenn. Jackson is managing partner of investments and Spears is managing partner of operations.
To read more clickhere .
David Jackson and Martin Spears generated more than $1.8 million in annual production while at Merrill, according to Raymond James. They now operate as Southern Springs Capital Group, based in Nashville, Tenn. Jackson is managing partner of investments and Spears is managing partner of operations.
To read more click
$140M Morgan Adviser joins RBC
A former Morgan Stanley adviser who oversaw $140 million in client assets has joined RBC, according to a spokeswoman .
Gray Jackson, who generated more than $1 million in annual revenues, joins RBC as a vice president, the firm says. Jackson will be working from the firm's new branch in Augusta, Ga.
To read more clickhere.
Gray Jackson, who generated more than $1 million in annual revenues, joins RBC as a vice president, the firm says. Jackson will be working from the firm's new branch in Augusta, Ga.
To read more click
$100M UBS adviser goes indie with Steward Partners
Steward Partners, the independent firm affiliated with Raymond James, has recruited a UBS adviser managing $100 million in client assets, the firm says.
Tom W. O'Bryon II, an adviser with nearly 40 years of industry experience, joined Steward Partners' office in Bethesda, Md. During his long career, O'Bryon has only been employed with three firms: Ferris Baker Watts, Legg Mason and UBS.
"Of course there were recruiting calls all the time," O'Bryon says. "Most of them I wasn't interested in. But Steward Partners was intriguing."
To read more clickhere .
Tom W. O'Bryon II, an adviser with nearly 40 years of industry experience, joined Steward Partners' office in Bethesda, Md. During his long career, O'Bryon has only been employed with three firms: Ferris Baker Watts, Legg Mason and UBS.
"Of course there were recruiting calls all the time," O'Bryon says. "Most of them I wasn't interested in. But Steward Partners was intriguing."
To read more click
RBC picks Jefferies exec as new CEO
RBC Wealth Management-U.S. named Michael Armstrong, who has been serving as Global Head of Wealth Management at Jefferies, as a replacement for retiring CEO John Taft, according to two people familiar with the matter.
Armstrong's appointment represents the latest transformation at RBC. Earlier this year, Tom Sagissor was appointed president, a new created position to lead the firm's private client group. And last year, RBC completed the acquisition of City National, a Los Angeles-based bank that serves ultrawealthy clients.
Armstrong will report to Russell Goldsmith, CEO of City National.
To read more clickhere .
(Image: Bloomberg)
Armstrong's appointment represents the latest transformation at RBC. Earlier this year, Tom Sagissor was appointed president, a new created position to lead the firm's private client group. And last year, RBC completed the acquisition of City National, a Los Angeles-based bank that serves ultrawealthy clients.
Armstrong will report to Russell Goldsmith, CEO of City National.
To read more click
(Image: Bloomberg)
Ex-Merrill adviser leaves UBS to rejoin wirehouse
An ex-Merrill Lynch adviser has left his current position at UBS to rejoin the wirehouse, a Merrill spokeswoman said.
John B. Campanello first joined Merrill in 2001 but left for UBS in 2009, according to FINRA BrokerCheck records. He started his career at Morgan Stanley in 1993, BrokerCheck shows. Campanello is now based in Merrill's Southlake, Texas office as a senior vice president, wealth management adviser.
Campanello is joined his daughter Lauren Campanello as a financial advisor trainee and Peggy Cappelletti as a client associate.
A UBS spokesman declines to comment on the move.
John B. Campanello first joined Merrill in 2001 but left for UBS in 2009, according to FINRA BrokerCheck records. He started his career at Morgan Stanley in 1993, BrokerCheck shows. Campanello is now based in Merrill's Southlake, Texas office as a senior vice president, wealth management adviser.
Campanello is joined his daughter Lauren Campanello as a financial advisor trainee and Peggy Cappelletti as a client associate.
A UBS spokesman declines to comment on the move.
