Advisors on the Move: $5B J.P. Morgan Team Lands at UBS
September 8, 2015 4:29 PM
Advisors on the Move: $5B J.P. Morgan Team Lands at UBS
Some of the industry's most elite advisor teams moved their books of business to UBS in the last month, including a J.P. Morgan team with nearly $5 billion client assets and a $1 billion team from Morgan Stanley. The firm also attracted an $878 million team from Merrill Lynch. Meanwhile, Merrill lost a $1.4 billion team to the independent space with Dynasty Financial Partners.
See these and all the latest recruiting moves by clicking through our slideshow.
See these and all the latest recruiting moves by clicking through our slideshow.
UBS Lures $5B J.P. Morgan Team
UBS grabbed a team from J.P. Morgan Private Bank that oversaw $5 billion in client assets, according to the firm.
Advisors Alli McCartney, Miguel Hennessy, David Wardrop, Jordan Mahaffey joined UBS in New York where they report to Chris Amo, complex director, the wirehouse said.
A UBS spokesman said that the advisors, who have previous experience at other wirehouses, work with ultrawealthy clients, many of whom are executives at financial services, technology and media companies.
Advisors Alli McCartney, Miguel Hennessy, David Wardrop, Jordan Mahaffey joined UBS in New York where they report to Chris Amo, complex director, the wirehouse said.
A UBS spokesman said that the advisors, who have previous experience at other wirehouses, work with ultrawealthy clients, many of whom are executives at financial services, technology and media companies.
$1.4B Merrill Team Goes Indy With Dynasty
A Merrill Lynch team that oversaw $1.4 billion in client assets has gone independent with help from Dynasty Financial Partners, the firm said.
The team, based in Aventura, Fla., consists of advisors Steven Wagner and his son, Michael, as well as Ivan Hernandez.
Also moving are Diana Torre, director of client services, and Cherie Cohen, director of operations.
Image: A Merrill Lynch team went independent, forming a new firm with help from Dynasty Financial Partners.
The team, based in Aventura, Fla., consists of advisors Steven Wagner and his son, Michael, as well as Ivan Hernandez.
Also moving are Diana Torre, director of client services, and Cherie Cohen, director of operations.
Image: A Merrill Lynch team went independent, forming a new firm with help from Dynasty Financial Partners.
UBS Hires Morgan Team With Almost $1B in AUM
A Morgan Stanley team that managed $950 million in assets has left the wirehouse to join UBS, a spokesman said.
Advisors David Sobocinski, Julian Frank, Marc Wong and Mark Remigio joined UBS in Melville, N.Y., where they report to Robert Limmer, executive director.
The team, which operates as the Empire Group, generated $5.6 million in revenue while at Morgan, according to a UBS spokesman.
Advisors David Sobocinski, Julian Frank, Marc Wong and Mark Remigio joined UBS in Melville, N.Y., where they report to Robert Limmer, executive director.
The team, which operates as the Empire Group, generated $5.6 million in revenue while at Morgan, according to a UBS spokesman.
Morgan Recruits $1B Team
Morgan Stanley hired a team managing $1 billion in client assets from Citi Private Bank, according to a spokeswoman for the wirehouse.
Advisors William Goettert and John Entenberg joined Morgan's office in Boca Raton, Fla., where they report to Complex Manager Bert White.
While at Citi, the duo generated $5 million in annual production.
Advisors William Goettert and John Entenberg joined Morgan's office in Boca Raton, Fla., where they report to Complex Manager Bert White.
While at Citi, the duo generated $5 million in annual production.
UBS Snags Merrill Advisors With $870M in AUM
UBS grabbed four Merrill Lynch advisors managing $870 million in client assets, a spokesman said.
Advisors Michael Carr, Kirk Ruth, Jeff Hogue, Jeff Rizzo joined a new UBS office in Gainesville, Fla., where they report to Complex Director Tom Isaacs.
The advisors generated $4.5 million while at Merrill, UBS said. All four advisors had spent their entire careers at Merrill prior to the move.
Advisors Michael Carr, Kirk Ruth, Jeff Hogue, Jeff Rizzo joined a new UBS office in Gainesville, Fla., where they report to Complex Director Tom Isaacs.
The advisors generated $4.5 million while at Merrill, UBS said. All four advisors had spent their entire careers at Merrill prior to the move.
Ameriprise Acquires Advisors With Over $400M in AUM
Four Wells Fargo advisors with more than $400 million in combined client assets have joined Ameriprise's employee channel.
The new hires joined Ameriprise's office in Sacramento, Calif. Advisor Glenn Kenes managed roughly $190 million in assets at the time of his departure from the wirehouse, according to a statement from Ameriprise. Kenes made the move with fellow Wells advisor Richard Barber, with whom he has formed a new team, Ameriprise says. Barber oversees more than $63 million in assets.
David Odom also made the move to Ameriprise from Wells Fargo where he managed more than $107 million in assets, the firm says. Clare Hiatt oversaw more than $54 million in assets at the time of her move to Ameriprise, according to the firm.
Image: Glenn Kenes and Richard Barber have formed a team together at Ameriprise.
The new hires joined Ameriprise's office in Sacramento, Calif. Advisor Glenn Kenes managed roughly $190 million in assets at the time of his departure from the wirehouse, according to a statement from Ameriprise. Kenes made the move with fellow Wells advisor Richard Barber, with whom he has formed a new team, Ameriprise says. Barber oversees more than $63 million in assets.
David Odom also made the move to Ameriprise from Wells Fargo where he managed more than $107 million in assets, the firm says. Clare Hiatt oversaw more than $54 million in assets at the time of her move to Ameriprise, according to the firm.
Image: Glenn Kenes and Richard Barber have formed a team together at Ameriprise.
Advisors With $378M in AUM Join Wells Fargo
Wells Fargo has hired two advisors with $378 million in combined assets under management to its bank channel.
Former Merrill Lynch advisor Jane Drew left after five years to join Wells Fargo's Wealth Brokerage Services, according to a bank spokeswoman.
Drew, who had $278 million in client assets at the time of her departure, will join her daughter Katherine Drew, along with client associate Eric Cordes at the firm's office in Portland, Wells Fargo says.
Separately, Timothy Pester, most recently an advisor with Key Investment Services, has joined Wells Fargo in Colorado Springs, Colo. He was hired by Southern Colorado regional branch manager Lou Garofano, according to the firm. Pester managed $100 million in AUM while at Key, Wells Fargo says.
Former Merrill Lynch advisor Jane Drew left after five years to join Wells Fargo's Wealth Brokerage Services, according to a bank spokeswoman.
Drew, who had $278 million in client assets at the time of her departure, will join her daughter Katherine Drew, along with client associate Eric Cordes at the firm's office in Portland, Wells Fargo says.
Separately, Timothy Pester, most recently an advisor with Key Investment Services, has joined Wells Fargo in Colorado Springs, Colo. He was hired by Southern Colorado regional branch manager Lou Garofano, according to the firm. Pester managed $100 million in AUM while at Key, Wells Fargo says.
Benjamin Edwards Grabs Advisors With $348M in AUM
Benjamin F. Edwards said it recruited three advisors who collectively managed $348 million in client assets.
Advisor Anthony Miceli joined Benjamin Edwards in Morristown, N.J., a suburb of New York. Miceli is a 22-year industry veteran who previously worked at Wells Fargo and A.G. Edwards, according to BrokerCheck.
Raymond James advisor Peter Borho joined Benjamin Edwards' office in Sarasota, Fla. Borho had been with Raymond James since 2006.
Image: Former Wells Fargo advisor Peter Borho joined regional firm Benjamin F. Edwards.
Advisor Anthony Miceli joined Benjamin Edwards in Morristown, N.J., a suburb of New York. Miceli is a 22-year industry veteran who previously worked at Wells Fargo and A.G. Edwards, according to BrokerCheck.
Raymond James advisor Peter Borho joined Benjamin Edwards' office in Sarasota, Fla. Borho had been with Raymond James since 2006.
Image: Former Wells Fargo advisor Peter Borho joined regional firm Benjamin F. Edwards.
UBS Recruits $1.3M Merrill Producer
A Merrill Lynch advisor who generated $1.3 million in annual revenue has left the wirehouse to join UBS, a spokesman said.
James Lipari joined the Swiss-owned firm in Kansas City, where he reports to Mike Mimick, complex director.
Lipari managed approximately $230 million in assets while at Merrill, UBS said. He had been with that firm since 2003, according to FINRA records.
Image: Advisor James Lipari joined UBS from Merrill Lynch, where he had worked since 2003.
James Lipari joined the Swiss-owned firm in Kansas City, where he reports to Mike Mimick, complex director.
Lipari managed approximately $230 million in assets while at Merrill, UBS said. He had been with that firm since 2003, according to FINRA records.
Image: Advisor James Lipari joined UBS from Merrill Lynch, where he had worked since 2003.
$200M Morgan Stanley Team Goes to FiNet
A former Morgan Stanley team with $192 million in client assets has opened an independent practice with Wells Fargo.
Jerod Wurm and Casey Frye, operating as Wurm & Frye Wealth Management of Roseville, Calif., joined the Wells Fargo Advisors Financial Network, the firm said.
Jerod Wurm and Casey Frye, operating as Wurm & Frye Wealth Management of Roseville, Calif., joined the Wells Fargo Advisors Financial Network, the firm said.
$160M Husband-and-Wife Team Join Raymond James
A husband-and-wife team with nearly $157 million in client assets left Edward Jones for Raymond James.
Dax and Amber Seale of Seale Wealth Management have folded their practice into Raymond James' traditional employee broker-dealer channel in Dallas, the firm said. Both had roughly $1.7 million in annual production at the time of their departure from Edward Jones, according to Raymond James.
The Seales will join Raymond James senior sales associate Angela Frohlich and sales associate Janie Faught as part of the move.
Image: Dax and Amber Seale of Seale Wealth Management are now with Raymond James.
Dax and Amber Seale of Seale Wealth Management have folded their practice into Raymond James' traditional employee broker-dealer channel in Dallas, the firm said. Both had roughly $1.7 million in annual production at the time of their departure from Edward Jones, according to Raymond James.
The Seales will join Raymond James senior sales associate Angela Frohlich and sales associate Janie Faught as part of the move.
Image: Dax and Amber Seale of Seale Wealth Management are now with Raymond James.
HighTower Picks Up Advisors With $150M in AUM
HighTower has acquired two LPL Financial advisors with $150 million in combined client assets.
Managing director and now partner Melissa Duffy has joined the firm with advisor Paige Todorich at Portland, Maine-based Simmons Wilkes Investment Advisors.
That brings the group's total corporate, family and individual assets to nearly $650 million, according to the firm.
Image: Melissa Duffy and Paige Todorich join HighTower in Portland, Maine.
Managing director and now partner Melissa Duffy has joined the firm with advisor Paige Todorich at Portland, Maine-based Simmons Wilkes Investment Advisors.
That brings the group's total corporate, family and individual assets to nearly $650 million, according to the firm.
Image: Melissa Duffy and Paige Todorich join HighTower in Portland, Maine.
$150M Team Goes to Aegis Capital
A team with roughly $150 million in AUM has moved their business from Capital Guardian to Aegis Capital, a spokesman said.
The team, led by Arturo J. Rodriguez Diaz, will continue their focus on servicing an international client base out of Aegis' office in Coral Gables, Fla., part of the greater Miami metro area, according to a statement from Aegis.
Diaz now serves as senior vice president of sales at Aegis.
Image: Arturo Rodriguez Diaz oversaw $150 million in assets before moving to Aegis Capital. Image: Arturo Rodriguez Diaz.
The team, led by Arturo J. Rodriguez Diaz, will continue their focus on servicing an international client base out of Aegis' office in Coral Gables, Fla., part of the greater Miami metro area, according to a statement from Aegis.
Diaz now serves as senior vice president of sales at Aegis.
Image: Arturo Rodriguez Diaz oversaw $150 million in assets before moving to Aegis Capital. Image: Arturo Rodriguez Diaz.
Wells Adds Advisors With $100M to Indy Channel
Wells Fargo recruited two advisors who managed more than $100 million in combined assets for its independent channel, a spokesman said.
Former UBS advisor Ramon Valdez joined the firm in Brea, Calif. While at the wirehouse, Valdez managed more than $35 million in client assets, a spokesman said.
He had been with UBS since 2010, according to FINRA BrokerCheck records.
Former UBS advisor Ramon Valdez joined the firm in Brea, Calif. While at the wirehouse, Valdez managed more than $35 million in client assets, a spokesman said.
He had been with UBS since 2010, according to FINRA BrokerCheck records.
Raymond James Lures Morgan Advisor
Wirehouse advisor Karl E. Hertig left Morgan Stanley to joined Raymond James & Associates in San Diego.
Hertig had been with Morgan since joining the industry in 2008.
Hertig had been with Morgan since joining the industry in 2008.
$250M Wells Team Goes Indy With Dynasty
A Wells Fargo team that oversaw more than $250 million in client assets has gone independent with Dynasty Financial Partners, a spokeswoman said.
Managing Partners Charles Eberly, Jr. and Lawrence DeFluri founded their new firm, SevenBridge Financial Group, with Dynasty's help in Harrisburg, Pa.
The team works with high-net-worth clients and business owners, as well as specializes in helping clients who receive income from natural gas leases.
Managing Partners Charles Eberly, Jr. and Lawrence DeFluri founded their new firm, SevenBridge Financial Group, with Dynasty's help in Harrisburg, Pa.
The team works with high-net-worth clients and business owners, as well as specializes in helping clients who receive income from natural gas leases.
Aegis Picks Up $200M JHS Team
A JHS Capital team with $200 million in client assets has joined Aegis Capital's employee channel, the firm said.
The eight-advisor team, now working out of the Aegis office in Portland, Ore., had an annual production of $2 million while at JHS, according to an Aegis spokesman.
Their move to Aegis comes just months after Ameriprise Financial announced that it had purchased JHS.
The eight-advisor team, now working out of the Aegis office in Portland, Ore., had an annual production of $2 million while at JHS, according to an Aegis spokesman.
Their move to Aegis comes just months after Ameriprise Financial announced that it had purchased JHS.
