Advisors on the Move: Merrill Grabs Team With $3.5B
October 26, 2015 8:30 AM
Advisors on the Move: Merrill Grabs Team With $3.5B
Credit Suisse saw some of the biggest recruitment losses this month after two of its teams that managed a combined $4.5 billion in client assets left for UBS and Merrill Lynch. In the larger of those two moves, Merrill picked up three advisors who oversaw $3.5 billion. Meanwhile, Merrill felt some pressure of its own after seven advisors who oversaw a combined $3.3 billion in AUM went independent 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.
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.
Merrill Grabs Team With $3.5B
Two teams that managed a combined $4.5 billion at Credit Suisse left the Swiss-owned firm to join UBS and Merrill Lynch.
The departures from Credit Suisse come following reports that the Swiss firm is considering selling its U.S. private bank.
In the larger of the two moves, Merrill recruited three advisors who managed $3.5 billion in client assets while at Credit Suisse, a spokeswoman said.
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Image: Credit Suisse lost two mega teams following reports that the Swiss-owned firm may sell its U.S. private bank. Image: Bloomberg.
The departures from Credit Suisse come following reports that the Swiss firm is considering selling its U.S. private bank.
In the larger of the two moves, Merrill recruited three advisors who managed $3.5 billion in client assets while at Credit Suisse, a spokeswoman said.
To read more, click here
Image: Credit Suisse lost two mega teams following reports that the Swiss-owned firm may sell its U.S. private bank. Image: Bloomberg.
$3.3B Merrill Advisors Go Indy With Dynasty
Seven advisors have left Merrill Lynch to form their own independent firm with help from Dynasty Financial Partners.
The advisors worked at Merrill's elite Private Banking & Investment Group where they managed $3.3 billion in combined client assets.
Team members include Chris Copps, Gordon Hassenplug, Darren Henderson, Michael Phelps, Alex Stimpson, Jon Tenney and Greg Walters.
Their new firm, Corient Capital, is based in Newport Beach, Calif.
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Image: Seven advisors left Merrill Lynch's elite Private Banking & Investment Group to form Corient Capital, an independent firm in Newport Beach, Calif.
The advisors worked at Merrill's elite Private Banking & Investment Group where they managed $3.3 billion in combined client assets.
Team members include Chris Copps, Gordon Hassenplug, Darren Henderson, Michael Phelps, Alex Stimpson, Jon Tenney and Greg Walters.
Their new firm, Corient Capital, is based in Newport Beach, Calif.
To read more, click here
Image: Seven advisors left Merrill Lynch's elite Private Banking & Investment Group to form Corient Capital, an independent firm in Newport Beach, Calif.
Advisors Leave Wells to Form $500M Team at Merrill
Advisors from Wells Fargo have joined a Merrill Lynch team that manages almost $500 million in client assets.
Former Wells senior financial advisors Bob Krumholz and Becca Siegel joined Merrill Lynch Wealth Management Advisor Emily OConnell and her team to form the OAKS Wealth Management Group based in Austin, Texas.
Also joining the team from Wells are investment analyst Jennifer Kim and registered senior client associate, McGee Jacobson.
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Image: Emily OConnell (center) is joined by Bob Krumholz and Becca Siegel at Merrill Lynchs OConnell Group.
Former Wells senior financial advisors Bob Krumholz and Becca Siegel joined Merrill Lynch Wealth Management Advisor Emily OConnell and her team to form the OAKS Wealth Management Group based in Austin, Texas.
Also joining the team from Wells are investment analyst Jennifer Kim and registered senior client associate, McGee Jacobson.
To read more, click here
Image: Emily OConnell (center) is joined by Bob Krumholz and Becca Siegel at Merrill Lynchs OConnell Group.
$370M Merrill Team Leaves For Stifel
A team that managed $370 million in client assets at Merrill Lynch has left the wirehouse to join Stifel, a spokeswoman for the firm said.
Sonny Skinner, Mark Causey, Everett Nix, Steve Hagood and Will Humber left Merrill to open a new office for Stifel's private client group in Tuscaloosa, Ala. Skinner also serves as a branch manager.
Skinner said the team was looking for a firm that was entrepreneurial in nature, and was drawn to Stifel.
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Sonny Skinner, Mark Causey, Everett Nix, Steve Hagood and Will Humber left Merrill to open a new office for Stifel's private client group in Tuscaloosa, Ala. Skinner also serves as a branch manager.
Skinner said the team was looking for a firm that was entrepreneurial in nature, and was drawn to Stifel.
To read more, click here
$300M Father-and-Son Team Exits UBS for Wells Fargo
A father-and-son UBS team with $300 million in combined client assets has moved their practice to Wells Fargo.
Former UBS advisors Wayne and David Baller of Baller Financial Group have left the wirehouse for Wells Fargo's new branch in Dayton, Ohio, the firm says. While at UBS, the team generated a combined annual production of $2.9 million, according to a Wells spokeswoman.
Client Associates Amanda Priaulx, Brandy Risheill and Sydney Seitz are moving with the team and will report to the firm's newly appointed Complex Manager Jamie Phillips, the firm says.
To read more, click here
Former UBS advisors Wayne and David Baller of Baller Financial Group have left the wirehouse for Wells Fargo's new branch in Dayton, Ohio, the firm says. While at UBS, the team generated a combined annual production of $2.9 million, according to a Wells spokeswoman.
Client Associates Amanda Priaulx, Brandy Risheill and Sydney Seitz are moving with the team and will report to the firm's newly appointed Complex Manager Jamie Phillips, the firm says.
To read more, click here
$300M Wells Team Goes Indy With Raymond James
A team that managed about $300 million at Wells Fargo has left to join Raymond James' independent broker-dealer, a spokeswoman for the firm confirmed.
Tommy Boyd, senior financial advisor with the team, says it made the move in part because of the opportunity to grow in new directions, with the possibility of adding an additional office.
"That just works better in the independent world than in the traditional employee model where it is very difficult to do that," Boyd says.
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Image: A Wells Fargo team led by senior financial advisor Tommy Boyd (center) left the wirehouse to form an independent firm affiliated with Raymond James.
Tommy Boyd, senior financial advisor with the team, says it made the move in part because of the opportunity to grow in new directions, with the possibility of adding an additional office.
"That just works better in the independent world than in the traditional employee model where it is very difficult to do that," Boyd says.
To read more, click here
Image: A Wells Fargo team led by senior financial advisor Tommy Boyd (center) left the wirehouse to form an independent firm affiliated with Raymond James.
$230M Advisor Moves to Ameriprise
A former M.J. Whitman advisor with $230 million in client assets has joined Ameriprise's employee channel, the firm said.
After spending the first 27 years of her securities career with M.J. Whitman, advisor Sandra G. Smith has moved to Ameriprise's employee channel at the firm's Midtown Manhattan office, according to Ameriprise.
She will report to Branch Manager Todd Hubley, the firm says.
To read more, click here
After spending the first 27 years of her securities career with M.J. Whitman, advisor Sandra G. Smith has moved to Ameriprise's employee channel at the firm's Midtown Manhattan office, according to Ameriprise.
She will report to Branch Manager Todd Hubley, the firm says.
To read more, click here
$152M Morgan Stanley Advisors Join FiNet
Two Morgan Stanley advisors with $152 million in combined client assets have gone independent with the Wells Fargo Advisors Financial Network, the firm said.
Ex-Morgan Stanley Advisor Gene Petro has opened an independent practice with FiNet in Mobile, Ala. with roughly $66 million in AUM, according to the firm.
Also joining the firm is former Morgan Stanley advisor Roberta Hunter, who brought over $86 million in AUM to her newly opened independent FiNet practice in Santa Cruz, Calif., the firm says.
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Ex-Morgan Stanley Advisor Gene Petro has opened an independent practice with FiNet in Mobile, Ala. with roughly $66 million in AUM, according to the firm.
Also joining the firm is former Morgan Stanley advisor Roberta Hunter, who brought over $86 million in AUM to her newly opened independent FiNet practice in Santa Cruz, Calif., the firm says.
To read more, click here
U.S. Trust Names 3 New Execs
U.S. Trust filled three executive sales positions at the firm's philanthropic solutions division.
Bernie Reidy, the former co-head of institutional sales at Commonfund, joins U.S. Trust Philanthropic Solutions in the newly created position of national philanthropic sales executive, the firm says.
Former J.P. Morgan Private Bank Investment Writer Christopher Mottershead also joins U.S Trust Philanthropic Solutions as an RFP manager and senior editor, the firm says.
Division Philanthropic Executive Annie Hildreth will also take on the newly created role of sales strategy and execution executive to support institutional sales across all channels, U.S. Trust says.
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Image: Christopher Mottershead has been appointed to RFP manager and senior editor at U.S. Trust Philanthropic Solutions.
Bernie Reidy, the former co-head of institutional sales at Commonfund, joins U.S. Trust Philanthropic Solutions in the newly created position of national philanthropic sales executive, the firm says.
Former J.P. Morgan Private Bank Investment Writer Christopher Mottershead also joins U.S Trust Philanthropic Solutions as an RFP manager and senior editor, the firm says.
Division Philanthropic Executive Annie Hildreth will also take on the newly created role of sales strategy and execution executive to support institutional sales across all channels, U.S. Trust says.
To read more, click here
Image: Christopher Mottershead has been appointed to RFP manager and senior editor at U.S. Trust Philanthropic Solutions.
Raymond James Lures AXA Advisors
Raymond James Financial Services snagged two advisors away from AXA Advisors by persuading them that it could help them to grow their practice more effectively.
Bijan Mohseni and David Townsend together managed about $150 million in client assets at AXA, according to a release. Their firm is InvestPro Wealth Strategies in Tampa, Fla.
They specialize in working with retirees, business owners, corporate executives and healthcare professionals.
To read more, click here
Bijan Mohseni and David Townsend together managed about $150 million in client assets at AXA, according to a release. Their firm is InvestPro Wealth Strategies in Tampa, Fla.
They specialize in working with retirees, business owners, corporate executives and healthcare professionals.
To read more, click here
Veteran UBS Advisor Goes to Wunderlich
A UBS advisor with $48 million in client assets has joined Wunderlich's wealth management team.
Veteran advisor Joseph C. Sanders has moved to the regional in Nashville after spending nearly 14 years at UBS, according to Wunderlich.
Sanders started his career at Dean Witter in 1986, prior to its merger with Morgan Stanley, FINRA records show. He later joined UBS in 2001, according BrokerCheck.
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Image: Joseph C. Sanders moved to Wunderlich after spending nearly 14 years with UBS.
Veteran advisor Joseph C. Sanders has moved to the regional in Nashville after spending nearly 14 years at UBS, according to Wunderlich.
Sanders started his career at Dean Witter in 1986, prior to its merger with Morgan Stanley, FINRA records show. He later joined UBS in 2001, according BrokerCheck.
To read more, click here
Image: Joseph C. Sanders moved to Wunderlich after spending nearly 14 years with UBS.
Noyes Recruits Veteran Advisor from J.P. Turner
A veteran advisor serving affluent individuals and families at J. P. Turner has gone independent with Noyes.
Peter Cory, founder of Cory Investments, will now focus on providing Noyes clients with wealth management, investment planning and retirement advisory services from the firm's independent channel, according to Noyes.
Following his start in the securities industry with Blunt Ellis in 1978, Cory worked for Merrill Lynch, E.F. Hutton, Lehman Brothers, Salomon Smith Barney, Prudential and WFG Investments before moving to J.P. Turner in 2009, according to FINRA's BrokerCheck.
Cory will report to James Lynch, Noyes' managing director of wealth management, the firm says.
Peter Cory, founder of Cory Investments, will now focus on providing Noyes clients with wealth management, investment planning and retirement advisory services from the firm's independent channel, according to Noyes.
Following his start in the securities industry with Blunt Ellis in 1978, Cory worked for Merrill Lynch, E.F. Hutton, Lehman Brothers, Salomon Smith Barney, Prudential and WFG Investments before moving to J.P. Turner in 2009, according to FINRA's BrokerCheck.
Cory will report to James Lynch, Noyes' managing director of wealth management, the firm says.
