Advisors on the Move: Merrill Loses Billion-Dollar Advisor, Lures Teams With $800M
March 16, 2015 8:05 AM
Merrill Lynch lost a billion-dollar team. But the firm picked up a UBS team with $500 million in assets and generating $3.1 million in annual revenue and another group from RBC that managed $300 million in assets.
Yet the wirehouse wasn't the only winner in the competition for top talent. Ameriprise picked up a team managing $240 million in client assets, while rival firm Baird grabbed a wirehouse team generating more than $2 million in annual revenue.
See these and all the latest recruiting moves by clicking through our slideshow.
Yet the wirehouse wasn't the only winner in the competition for top talent. Ameriprise picked up a team managing $240 million in client assets, while rival firm Baird grabbed a wirehouse team generating more than $2 million in annual revenue.
See these and all the latest recruiting moves by clicking through our slideshow.
Billion-Dollar Advisor Leaves Merrill
A Merrill Lynch advisor who managed more than $1 billion in client assets has parted ways with the firm.
Thomas Buck left last week for unknown reasons, and took his daughter Ann, also an advisor for the wirehouse -- and an Indianapolis Colts cheerleader -- with him, sources say.
A firm spokesman confirmed the departures and declined to comment further on the move, which has had recruiters and advisors buzzing over the fates of the father and daughter.
"A broker doing huge numbers, huge assets, never leaves without having another position," says recruiter Michael King, president of Michael King Associates in New York. "Something has caused them to leave. There's no question about it."
To read more,click here
Thomas Buck left last week for unknown reasons, and took his daughter Ann, also an advisor for the wirehouse -- and an Indianapolis Colts cheerleader -- with him, sources say.
A firm spokesman confirmed the departures and declined to comment further on the move, which has had recruiters and advisors buzzing over the fates of the father and daughter.
"A broker doing huge numbers, huge assets, never leaves without having another position," says recruiter Michael King, president of Michael King Associates in New York. "Something has caused them to leave. There's no question about it."
To read more,
Merrill Lures $500M UBS Team
A UBS team managing $500 million in client assets and generating $3.1 million in annual revenue left the wirehouse to join Merrill Lynch, a spokeswoman said.
The team joined Merrill's office in Palm Beach, Fla., and reports to James Chahine, complex director. On the team are advisors Robert Debbs, who heads the group; Frederick J. Shapiro, Steven F. Colamarino and Albert David Hutzler III.
Debbs had been with UBS since 2005, according to FINRA records. Shapiro started his advisory career in 1998 at Dean Witter. He moved to UBS in 2000. Hutzler has more than three decades of industry experience, starting with Alex Brown & Sons in 1977. He later worked for Prudential and Wachovia before moving to UBS in 2007.
To read more,click here
Image: Robert Debbs
The team joined Merrill's office in Palm Beach, Fla., and reports to James Chahine, complex director. On the team are advisors Robert Debbs, who heads the group; Frederick J. Shapiro, Steven F. Colamarino and Albert David Hutzler III.
Debbs had been with UBS since 2005, according to FINRA records. Shapiro started his advisory career in 1998 at Dean Witter. He moved to UBS in 2000. Hutzler has more than three decades of industry experience, starting with Alex Brown & Sons in 1977. He later worked for Prudential and Wachovia before moving to UBS in 2007.
To read more,
Image: Robert Debbs
$260M AUM Morgan Advisor Joins Baird
An advisor who managed roughly $260 million in client assets for Morgan Stanley has joined Baird, the firm said.
The former Morgan advisor, Barbara Woolhandler, joined Baird's Houston office as a director and financial advisor, according to the firm. She began her career in 1986 at the brokerage firm Rotan Mosle, according to FINRA records.
Baird also picked up a team with more than $2 million in annual revenues from rival UBS, according to a press release with a roundup of the firm's most recent hires. The UBS team was assigned to work from Baird's office in Fort Worth, Texas. The GCE Group is comprised of advisors Rebecca Gadus, Jeffrey Carroll and Tyson Eubanks. Also moving with the group is Senior Client Specialist Sheri Burns.
To read more,click here
Image: Barbara Woolhandler
The former Morgan advisor, Barbara Woolhandler, joined Baird's Houston office as a director and financial advisor, according to the firm. She began her career in 1986 at the brokerage firm Rotan Mosle, according to FINRA records.
Baird also picked up a team with more than $2 million in annual revenues from rival UBS, according to a press release with a roundup of the firm's most recent hires. The UBS team was assigned to work from Baird's office in Fort Worth, Texas. The GCE Group is comprised of advisors Rebecca Gadus, Jeffrey Carroll and Tyson Eubanks. Also moving with the group is Senior Client Specialist Sheri Burns.
To read more,
Image: Barbara Woolhandler
$240M Team Joins Ameriprise
Two advisors, who managed about $240 million in client assets, have joined the employee channel at Ameriprise, a firm spokesman said.
William Geraghty and Robert Lum, longtime advisors with brokerage M.J. Whitman, left the firm to join Ameriprise and work from its New York office, the spokesman said.
Senior advisor Geraghty has spent his 25 years in the securities industry working for New York-based M.J. Whitman. Prior to his 17 years with M.J. Whitman, Lum spent two years with BDS Securities, according to FINRA records.
To read more,click here
William Geraghty and Robert Lum, longtime advisors with brokerage M.J. Whitman, left the firm to join Ameriprise and work from its New York office, the spokesman said.
Senior advisor Geraghty has spent his 25 years in the securities industry working for New York-based M.J. Whitman. Prior to his 17 years with M.J. Whitman, Lum spent two years with BDS Securities, according to FINRA records.
To read more,
Raymond James Nabs $1.9M Morgan Team
Two Morgan Stanley advisors generating $1.9 million in annual revenues have left the wirehouse to join Raymond James & Associates, the firm said.
Industry veterans Douglas Richards and Sheldon Ray Jr. managed approximately $150 million in assets while at the wirehouse, Raymond James said.
Both advisors joined the firm's Washington office, where they now serve as senior vice presidents of investments and portfolio managers under the name R&R Global Asset Management of Raymond James. Also moving with the team is Karen Burt, senior registered client service associate.
To read more,click here
Image: Douglas Richards, Karen Burt and Sheldon Ray joined Raymond James' office in Washington, D.C.
Industry veterans Douglas Richards and Sheldon Ray Jr. managed approximately $150 million in assets while at the wirehouse, Raymond James said.
Both advisors joined the firm's Washington office, where they now serve as senior vice presidents of investments and portfolio managers under the name R&R Global Asset Management of Raymond James. Also moving with the team is Karen Burt, senior registered client service associate.
To read more,
Image: Douglas Richards, Karen Burt and Sheldon Ray joined Raymond James' office in Washington, D.C.
Merrill Picks Up $300M RBC Team
Merrill Lynch grabbed an RBC team managing $300 million in client assets, a spokeswoman said.
Advisors Ronald Slevin, George Gladman and Jared Stone, along with client associate Jeffrey Tucker, joined Merrill in New York. They report to Jeffrey Tucker, managing director and complex manager for Merrill's Fifth Avenue Financial Center.
While at RBC, the team's production last year was about $2.5 million, according to the Merrill spokeswoman.
To read more,click here
Advisors Ronald Slevin, George Gladman and Jared Stone, along with client associate Jeffrey Tucker, joined Merrill in New York. They report to Jeffrey Tucker, managing director and complex manager for Merrill's Fifth Avenue Financial Center.
While at RBC, the team's production last year was about $2.5 million, according to the Merrill spokeswoman.
To read more,
$120M Wells Fargo Advisor Joins RIA
An avid surfer and advisor, who managed $120 million in client assets for Wells Fargo, has left to join RIA Integrated Wealth Management, the firm said.
Jim Bray became the ninth wirehouse advisor to join the Palm Springs, Calif.-based firm since November 2013, according to a press release. Bray began his career in 2004 with Morgan Stanley before his time at Wells, according to his website page at Integrated Wealth Management.
To read more,click here
Image: Jim Bray
Jim Bray became the ninth wirehouse advisor to join the Palm Springs, Calif.-based firm since November 2013, according to a press release. Bray began his career in 2004 with Morgan Stanley before his time at Wells, according to his website page at Integrated Wealth Management.
To read more,
Image: Jim Bray
