Advisors on the Move: UBS Lures a $2B Mega Team
August 17, 2015 8:24 AM
Advisors on the Move: UBS Lures a $2B Mega Team
Morgan Stanley saw several producers leave the firm in the first half of August, including a four-advisor team who managed $2 billion in assets. The wirehouse also saw teams with $300 million and $248 million, respectively, jump to Merrill this month. Meanwhile, Ameriprise recruited three advisors with $340 million in combined AUM, while RBC also added a pair of $2.3 million producers from Stifel.
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 $2B Mega Team
A Morgan Stanley team that managed $2 billion in client assets left to join UBS, a spokesman said.
The four-member team, which operates as the Arthurs Malof Group, generated $10 million in annual revenue while at Morgan.
The group consists of advisors Glenn and Wyatt Arthurs, who are father-and-son, Chris Malof and Jay Blair. All joined UBS in Buffalo, N.Y., where they report to Jay Berube, branch manager, and Sam Messina, complex director.
The four-member team, which operates as the Arthurs Malof Group, generated $10 million in annual revenue while at Morgan.
The group consists of advisors Glenn and Wyatt Arthurs, who are father-and-son, Chris Malof and Jay Blair. All joined UBS in Buffalo, N.Y., where they report to Jay Berube, branch manager, and Sam Messina, complex director.
Ameriprise Recruits Advisors With Over $340M AUM
Three advisors who oversaw more than $340 million in AUM have joined Ameriprise, a spokesman says.
In the largest of the three moves, advisor Kenton McMahon left Wells Fargo to join Ameriprise's employee channel in Dublin, Ohio, a suburb of Columbus.
While at the wirehouse, McMahon managed $161 million in client assets.
In the largest of the three moves, advisor Kenton McMahon left Wells Fargo to join Ameriprise's employee channel in Dublin, Ohio, a suburb of Columbus.
While at the wirehouse, McMahon managed $161 million in client assets.
RBC Adds $2.3M Stifel Team
A pair of $2.3 million producers left Stifel to join RBC, according to the firm.
Michael Starr and Daniel Starr, both brothers, will join RBC’s midtown office in New York, where they will report to complex director John Moran. They will operate as The Starr Group, RBC said.
The brothers joined Stifel in 2007 from Ryan Beck, a New Jersey-based broker that was acquired by Stifel in the same year, according to their BrokerCheck records.
Michael Starr and Daniel Starr, both brothers, will join RBC’s midtown office in New York, where they will report to complex director John Moran. They will operate as The Starr Group, RBC said.
The brothers joined Stifel in 2007 from Ryan Beck, a New Jersey-based broker that was acquired by Stifel in the same year, according to their BrokerCheck records.
$2.5M Morgan Team Leaves for Merrill
Merrill Lynch picked up a Morgan Stanley team that generated $2.5 million in annual revenues, a spokeswoman said.
Advisors Stephen J. Renie, Michael S. Arthur and Jennifer S. Hall joined Merrill in Cincinnati where they report to Market Executive John R. Nicholson.
While at Morgan, the advisors oversaw more than $300 million in client assets.
Advisors Stephen J. Renie, Michael S. Arthur and Jennifer S. Hall joined Merrill in Cincinnati where they report to Market Executive John R. Nicholson.
While at Morgan, the advisors oversaw more than $300 million in client assets.
Merrill Recruits $2.3M Producers
Merrill Lynch grabbed an advisor team managing $248 million in client assets from Morgan Stanley, according to the firm.
Advisors Hyeon Kang, Larry Dime and Hung Tran generated $2.3 million in annual revenues while at Morgan, Merrill said. They will report to Anthony DiBlasi, the firm’s market president for Seattle and Washington State.
The team specializes in serving high-net-worth individuals and corporate clients.
Advisors Hyeon Kang, Larry Dime and Hung Tran generated $2.3 million in annual revenues while at Morgan, Merrill said. They will report to Anthony DiBlasi, the firm’s market president for Seattle and Washington State.
The team specializes in serving high-net-worth individuals and corporate clients.
$150M Advisor Joins Raymond James
An advisor who was managing $150 million in client assets for Hilliard Lyons has moved to the independent side of Raymond James, according to the firm.
Gavin Gleason, who joined Raymond James’s investment advisor division, the firm’s RIA platform, now operates his practice as The Gleason Group, based in Prospect, Ky.
According to FINRA records, Gleason joined Hilliard Lyons in 2009 from Merrill Lynch, where he began his advisory career eight years earlier.
Gavin Gleason, who joined Raymond James’s investment advisor division, the firm’s RIA platform, now operates his practice as The Gleason Group, based in Prospect, Ky.
According to FINRA records, Gleason joined Hilliard Lyons in 2009 from Merrill Lynch, where he began his advisory career eight years earlier.
Advisors Managing a Combined $150M Go Indy With FiNet
Three advisors with $150 million in combined client assets have gone independent with Wells Fargo.
Caleb Kennedy, Leonard Cautela and Kyle Wagner have joined the Wells Fargo Advisors Financial Network, the firm said.
Kennedy moved to Bison Financial Group of Melbourne, Fla., from LPL, where he was managing assets worth $79 million, Wells Fargo said. Cautela, a former Morgan Stanley advisor with $43 million in client assets, went independent with Legacy Financials Partners of Fairfield, N.J. Wagner, also according to Wells Fargo, managed assets worth $28 million while at GWN Securities, an RIA based in Wayne, Pa.
Caleb Kennedy, Leonard Cautela and Kyle Wagner have joined the Wells Fargo Advisors Financial Network, the firm said.
Kennedy moved to Bison Financial Group of Melbourne, Fla., from LPL, where he was managing assets worth $79 million, Wells Fargo said. Cautela, a former Morgan Stanley advisor with $43 million in client assets, went independent with Legacy Financials Partners of Fairfield, N.J. Wagner, also according to Wells Fargo, managed assets worth $28 million while at GWN Securities, an RIA based in Wayne, Pa.
New Hires at U.S. Trust
U.S. Trust announced several new hires over the last month.
Elizabeth Hopkins, a former private banker with J.P. Morgan, joined the firm's Richmond, Va. office, according to statements from U.S. Trust.
In Texas, former BB&T corporate banker Carol Polasky joined in Dallas, while ex-BBVA Compass portfolio management director Silvia Salle took a position with the firm in Houston, U.S. Trust says.
Elizabeth Hopkins, a former private banker with J.P. Morgan, joined the firm's Richmond, Va. office, according to statements from U.S. Trust.
In Texas, former BB&T corporate banker Carol Polasky joined in Dallas, while ex-BBVA Compass portfolio management director Silvia Salle took a position with the firm in Houston, U.S. Trust says.
