Advisers on the move: RBC nabs $1B Morgan team
September 13, 2016 3:33 PM
Mega moves for both wirehouse and regional firms
RBC recruited a Morgan Stanley team that managed $1 billion in client assets.
Wells Fargo also successfully grabbed teams that managed more than $1.2 billion in combined client assets from J.P. Morgan Private Bank and Morgan Stanley.
To read the latest round-up of adviser moves, click through our slideshow.
Read more:Advisers on the move: Stifel lands $3.9B team
Wells Fargo also successfully grabbed teams that managed more than $1.2 billion in combined client assets from J.P. Morgan Private Bank and Morgan Stanley.
To read the latest round-up of adviser moves, click through our slideshow.
Read more:
Kellie Gann
$1B Morgan Stanley team nabbed by RBC
A team that managed $1 billion in client assets left Morgan Stanley to join RBC, a spokeswoman says.
RBC's newest hires generated $3.6 million in annual revenue, the firm says.
The group operates from RBC's offices in San Antonio and Lufkin, Texas. The latter is a new satellite office. Team members include advisers Phillip Friesen, his son John, Chuck Crowson, Greg Bowman and Josh Zeleskey. Also moving with the team are Karen Ronaghan, senior financial associate, and Bonnie McKinney, senior registered client associate.
To read more, clickhere .
RBC's newest hires generated $3.6 million in annual revenue, the firm says.
The group operates from RBC's offices in San Antonio and Lufkin, Texas. The latter is a new satellite office. Team members include advisers Phillip Friesen, his son John, Chuck Crowson, Greg Bowman and Josh Zeleskey. Also moving with the team are Karen Ronaghan, senior financial associate, and Bonnie McKinney, senior registered client associate.
To read more, click
$700M team joins Wells Fargo
Wells Fargo hired a team that oversaw $700 million in assets while at J.P. Morgan Private Bank, a spokeswoman says.
Advisers Laurisa Anderson and Steven Remchuk joined Wells Fargo Advisors earlier this month in Tulsa, Okla. They report to branch manager John Gero, according to the firm.
To read more, clickhere .
Advisers Laurisa Anderson and Steven Remchuk joined Wells Fargo Advisors earlier this month in Tulsa, Okla. They report to branch manager John Gero, according to the firm.
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Bloomberg News
$587M Morgan team goes independent with Wells Fargo
A Morgan Stanley team that managed $578 million in client assets left the wirehouse for independence with Wells Fargo FiNet, a spokesman said.
Matt Petersen, Dwayne Michael, Michael Budd, Brian Gibson, Randy Gibson and Andy Carrigan operate their practice as Encore Wealth Management, based out of Fresno, Calif.
To read more, clickhere .
(Image: Bloomberg News)
Matt Petersen, Dwayne Michael, Michael Budd, Brian Gibson, Randy Gibson and Andy Carrigan operate their practice as Encore Wealth Management, based out of Fresno, Calif.
To read more, click
(Image: Bloomberg News)
Stifel hires Merrill Lynch duo
Stifel picked up two recruits from Merrill Lynch who have experience in designing and implementing corporate equity compensation plans, a spokesman confirmed.
Joseph Long, senior vice president of investments, and Brian Schneiweiss, registered investment associate, recently joined Stifel's New York office.
Long was responsible for more than $500 million in assets, according to Stifel.
To read more, clickhere .
Joseph Long, senior vice president of investments, and Brian Schneiweiss, registered investment associate, recently joined Stifel's New York office.
Long was responsible for more than $500 million in assets, according to Stifel.
To read more, click
Bloomberg News
$427M Morgan Stanley team joins Wells Fargo
Wells Fargo recruited a team that managed $427 million in combined client assets at Morgan Stanley, a spokeswoman confirmed.
Advisers Brian Latz, John Cicillini and Kenneth Cariota joined Wells Fargo Advisors' office in Paramus, N.J. They report to William George, branch manager, and Tim Sheridan, market manager for the New Jersey Highlands Market, according to the firm.
To read more, clickhere .
(Image: Bloomberg News)
Advisers Brian Latz, John Cicillini and Kenneth Cariota joined Wells Fargo Advisors' office in Paramus, N.J. They report to William George, branch manager, and Tim Sheridan, market manager for the New Jersey Highlands Market, according to the firm.
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(Image: Bloomberg News)
teahmartinphotography
Benjamin Edwards hires advisers with $384M in combined AUM, promotes exec
Benjamin F. Edwards recruited four advisers who collectively oversaw $384 million in assets under management, according to the firm
The brokerage also promoted Douglas Rubenstein to become its new chief operating officer. Rubenstein has been serving as director of capital markets and business strategy at Benjamin Edwards since 2012, according to a statement from the company. Rubenstein will continue to hold those responsibilities in addition to his new ones.
To read more, clickhere .
The brokerage also promoted Douglas Rubenstein to become its new chief operating officer. Rubenstein has been serving as director of capital markets and business strategy at Benjamin Edwards since 2012, according to a statement from the company. Rubenstein will continue to hold those responsibilities in addition to his new ones.
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$250M Merrill team joins Morgan Stanley
A Merrill Lynch team that managed $250 million in client assets has moved their practice to Morgan Stanley, according to the firm.
Vivan Lin and Han Lin of the Lin Group will now operate out of Morgan Stanley's office in Pasadena, Calif. Despite having the same last name, the advisers are not related, a firm spokeswoman says.
To read more, clickhere .
Vivan Lin and Han Lin of the Lin Group will now operate out of Morgan Stanley's office in Pasadena, Calif. Despite having the same last name, the advisers are not related, a firm spokeswoman says.
To read more, click
$220M Wells Fargo team goes indie with Raymond James
Raymond James recruited a team that oversaw $220 million in client assets while at Wells Fargo, the firm says.
The team joined Advisor Select, a special independent channel at Raymond James & Associates, the firm's employee broker-dealer. Financial planners joining Advisor Select remain W-2 employees, but have more leeway in designing their practice, including the freedom to choose their own location and control their branch's P&L, according to the firm.
To read more, clickhere .
The team joined Advisor Select, a special independent channel at Raymond James & Associates, the firm's employee broker-dealer. Financial planners joining Advisor Select remain W-2 employees, but have more leeway in designing their practice, including the freedom to choose their own location and control their branch's P&L, according to the firm.
To read more, click
$136M UBS adviser joins Wells Fargo
A longtime wirehouse adviser at UBS who managed $136 million in client assets moved to Wells Fargo Advisors, according to a company spokeswoman.
Larry Fowler, an industry veteran with 34 years of experience, joined Wells Fargo at its office in Washington after nearly seven years with UBS, according to Wells Fargo. Fowler now reports to Branch Manager Forrest Williams, the firm says.
To read more, clickhere .
(Image: Bloomberg News)
Larry Fowler, an industry veteran with 34 years of experience, joined Wells Fargo at its office in Washington after nearly seven years with UBS, according to Wells Fargo. Fowler now reports to Branch Manager Forrest Williams, the firm says.
To read more, click
(Image: Bloomberg News)
Bloomberg News
$125M Merrill adviser goes indie
A Merrill Lynch adviser who managed $125 million in client assets left the wirehouse to go independent with help from Bolton Global Capital, a spokeswoman said.
Samuel Nunez joined TransAtlantic Investment Partners, a San Diego-based firm opened by former Merrill complex director James Jiao last year. Jiao already was working with Bolton Global.
To read more, clickhere .
(Image: Bloomberg News)
Samuel Nunez joined TransAtlantic Investment Partners, a San Diego-based firm opened by former Merrill complex director James Jiao last year. Jiao already was working with Bolton Global.
To read more, click
(Image: Bloomberg News)
Raymond James branch manager departs for Wunderlich
Wunderlich Securities hired a veteran branch manager from Raymond James & Associates, a spokesman said.
Michel Rittenberg, will oversee five advisers managing $280 million in AUM out of Wunderlich's Miami office, according to the firm.
Rittenberg had been with Raymond James since 2013, when the firm acquired Morgan Keegan, where he served as a branch manager from 2005 to 2012.
To read more, clickhere .
Michel Rittenberg, will oversee five advisers managing $280 million in AUM out of Wunderlich's Miami office, according to the firm.
Rittenberg had been with Raymond James since 2013, when the firm acquired Morgan Keegan, where he served as a branch manager from 2005 to 2012.
To read more, click
Matthew Lloyd/Bloomberg
UBS recruits $378M team from Morgan Stanley
UBS recruited a team from Morgan Stanley that managed approximately $378 million in client assets, a spokesman confirmed. This marks one of UBS’s newest hires since the firm unveiled sweeping changes to its comp plan.
The newest recruits are industry veterans, one of whom is a former football coach. They joined UBS in Mt. Laurel, N.J., and are focused on serving high-net-worth clients, according to the firm.
To read more, clickhere .
(Image: Bloomberg News)
The newest recruits are industry veterans, one of whom is a former football coach. They joined UBS in Mt. Laurel, N.J., and are focused on serving high-net-worth clients, according to the firm.
To read more, click
(Image: Bloomberg News)
Adviser leaves Deutsche Bank to return to Mother Merrill
(Bloomberg News) An adviser quit Deutsche Bank to rejoin Merrill Lynch, a spokeswoman said.
Paul Morris worked at Merrill from 1997 to 2002, according to FINRA BrokerCheck records. He later worked for Barclays and J.P. Morgan Securities before moving to Deutsche Bank in 2012.
To read more, clickhere .
(Image: Bloomberg News)
Paul Morris worked at Merrill from 1997 to 2002, according to FINRA BrokerCheck records. He later worked for Barclays and J.P. Morgan Securities before moving to Deutsche Bank in 2012.
To read more, click
(Image: Bloomberg News)
Famed investor Bill Miller leaves Legg Mason after 35 years
(Bloomberg) — Bill Miller is severing ties with Legg Mason after more than three decades.
The stock picker, famed for beating the S&P 500 for 15 straight years when he ran the Legg Mason Value Trust, will buy Legg Mason's stake in LMM, an investment adviser that he and the company jointly own, according to a statement released today. LMM oversees $1.8 billion in assets, including the $1.3 billion Legg Mason Opportunity Trust, the Miller Income Opportunity Trust and related strategies.
To read more, clickhere .
(Image: Bloomberg News)
The stock picker, famed for beating the S&P 500 for 15 straight years when he ran the Legg Mason Value Trust, will buy Legg Mason's stake in LMM, an investment adviser that he and the company jointly own, according to a statement released today. LMM oversees $1.8 billion in assets, including the $1.3 billion Legg Mason Opportunity Trust, the Miller Income Opportunity Trust and related strategies.
To read more, click
(Image: Bloomberg News)
