Advisors on the Move: $6.5B Team Joins Morgan Stanley
January 20, 2015 8:20 AM
Advisors on the Move
Morgan Stanley recently picked up advisors managing more than $7 billion in combined AUM, including one $6.5 billion team for its Graystone Consulting unit. Rival firm Janney Montgomery Scott recruited a Merrill Lynch advisor producing $1.87 million while HighTower grabbed a UBS team managing $500 million. See these and all the latest recruiting moves by clicking through our slideshow.
Mega Team Joins Morgan Stanley
Morgan Stanley recruited a $6.5 billion team from Merrill Lynch for its elite Graystone Consulting unit, surpassing Morgan's biggest recruiting grab in 2014, which was a $4.5 billion team.
The new recruits, known as the Stephans Van Liew and Oiler Group, were previously part of Merrill's Private Banking & Investment Group. The eight-member group, which joined Morgan in Chicago, works with high-net-worth individuals, family offices, university endowments and other institutions.
Morgan's Graystone Consulting unit specializes in services for institutional clients. The team is led by senior partners and managing directors Linda Stephans, Kristina Van Liew and Erik Oiler.
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The new recruits, known as the Stephans Van Liew and Oiler Group, were previously part of Merrill's Private Banking & Investment Group. The eight-member group, which joined Morgan in Chicago, works with high-net-worth individuals, family offices, university endowments and other institutions.
Morgan's Graystone Consulting unit specializes in services for institutional clients. The team is led by senior partners and managing directors Linda Stephans, Kristina Van Liew and Erik Oiler.
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Morgan Stanley Recruits Advisors Managing $622M in Assets
A team producing $4.2 million has joined Morgan Stanley.
The team, known as the Bogart Group, left RBC Wealth Management-U.S. to join Morgan in McLean, Va., a firm spokeswoman said. The group had been managing $622 million in assets while at RBC.
Group member Brian Bogart joined the firm as a senior vice president and financial advisor. He started his career in 1983 with Dean Witter, according to FINRA records. He had worked at RBC since 2009. Bogart's son, James, also with the firm, earned his Series 7 in 2007, and joined Morgan as a vice president.
Fellow team member Adam Giles had worked at RBC since 2009, and Peter Knoer, the most recent entry to the advisory profession, earned his Series 7 in 2013. Previously, Knoer worked at Exxon Mobil, according to FINRA records. He is based in Houston, according to the group's website.
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The team, known as the Bogart Group, left RBC Wealth Management-U.S. to join Morgan in McLean, Va., a firm spokeswoman said. The group had been managing $622 million in assets while at RBC.
Group member Brian Bogart joined the firm as a senior vice president and financial advisor. He started his career in 1983 with Dean Witter, according to FINRA records. He had worked at RBC since 2009. Bogart's son, James, also with the firm, earned his Series 7 in 2007, and joined Morgan as a vice president.
Fellow team member Adam Giles had worked at RBC since 2009, and Peter Knoer, the most recent entry to the advisory profession, earned his Series 7 in 2013. Previously, Knoer worked at Exxon Mobil, according to FINRA records. He is based in Houston, according to the group's website.
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$300M Wirehouse Team Joins Raymond James
A Morgan Stanley team managing more than $300 million in assets left the wirehouse to join Raymond James Financial Services, the firm's independent broker-dealer.
Advisors Craig Houck and Richard Schooley now operate as Dogwood Wealth Advisors with offices in Atlanta and Savannah, Ga. They generated $1.85 million in annual fees and commissions while at Morgan Stanley.
Alyssa Donaldson, director of client services, also moved with the advisors.
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Advisors Craig Houck and Richard Schooley now operate as Dogwood Wealth Advisors with offices in Atlanta and Savannah, Ga. They generated $1.85 million in annual fees and commissions while at Morgan Stanley.
Alyssa Donaldson, director of client services, also moved with the advisors.
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UBS Team With $500M Moves to HighTower
HighTower Advisors has signed a breakaway team managing $500 million in client assets.
Former UBS advisors J. Emmett Towey and J. Michael Cantore III will lead TC Wealth Management as partners and managing directors. This is their third collaboration after heading teams at Citigroup Smith Barney and UBS, according to a release announcing the partnership.
Senior advisor Towey has 20 years of experience in the securities industry and Cantore has 16 years, according to FINRA records. Both advisors wore multiple hats at UBS, where they served as senior vice presidents and corporate stock benefit consultants. Cantore also worked as a portfolio manager. The pair worked at the wirehouse for over seven years.
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Former UBS advisors J. Emmett Towey and J. Michael Cantore III will lead TC Wealth Management as partners and managing directors. This is their third collaboration after heading teams at Citigroup Smith Barney and UBS, according to a release announcing the partnership.
Senior advisor Towey has 20 years of experience in the securities industry and Cantore has 16 years, according to FINRA records. Both advisors wore multiple hats at UBS, where they served as senior vice presidents and corporate stock benefit consultants. Cantore also worked as a portfolio manager. The pair worked at the wirehouse for over seven years.
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Raymond James Recruits Wirehouse Advisor Producing $1.3M
A UBS advisor producing nearly $1.3 million in annual revenues left the wirehouse for Raymond James & Associates.
Joel Feldman joined Raymond James last week in Conshohocken, Pa., where he reports to Rick Hartman, branch manager.
Feldman managed more than $188 million in assets while at UBS. He had been at the wirehouse since 1997, according to FINRA records. Feldman has been in the industry for 33 years, having started his career in 1982 with Tucker Anthony, a brokerage firm that was later acquired by RBC.
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Joel Feldman joined Raymond James last week in Conshohocken, Pa., where he reports to Rick Hartman, branch manager.
Feldman managed more than $188 million in assets while at UBS. He had been at the wirehouse since 1997, according to FINRA records. Feldman has been in the industry for 33 years, having started his career in 1982 with Tucker Anthony, a brokerage firm that was later acquired by RBC.
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$1.4M Producer Leaves Merrill for Janney Montgomery Scott
A financial advisor managing $215 million in assets left Merrill Lynch to join regional firm Janney Montgomery Scott.
Dan Honan joined Janney as an executive vice president in Yarmouth, Maine. While at Merrill, Honan generated $1.4 million in annual revenue.
He is an industry veteran, having started his career in 1986 at Lehman Brothers, according to FINRA records. He had worked at Merrill since 2010.
Honan reports to Peter Price, senior vice president and northern region complex manager at Janney.
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Dan Honan joined Janney as an executive vice president in Yarmouth, Maine. While at Merrill, Honan generated $1.4 million in annual revenue.
He is an industry veteran, having started his career in 1986 at Lehman Brothers, according to FINRA records. He had worked at Merrill since 2010.
Honan reports to Peter Price, senior vice president and northern region complex manager at Janney.
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Raymond James Hires RBC Team With $185M
Raymond James & Associates lured away an advisor team with more than $185 million in client assets from RBC Wealth Management.
The team of advisors Katherine Traver and Michael Gardner opened a new office in Manchester Village, Vt., representing the firm's first employee channel office in the Green Mountain state.
Traver is an industry veteran, having launched her career in 1983 with Paine, Webber, Jackson & Curtis, according to FINRA records. She worked at A.G. Edwards for 21 years, leaving the firm for RBC after its merger with Wachovia in 2008.
Gardner joined the industry in 2003 when he started work at A.G. Edwards. He moved with Traver to RBC in 2008.
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The team of advisors Katherine Traver and Michael Gardner opened a new office in Manchester Village, Vt., representing the firm's first employee channel office in the Green Mountain state.
Traver is an industry veteran, having launched her career in 1983 with Paine, Webber, Jackson & Curtis, according to FINRA records. She worked at A.G. Edwards for 21 years, leaving the firm for RBC after its merger with Wachovia in 2008.
Gardner joined the industry in 2003 when he started work at A.G. Edwards. He moved with Traver to RBC in 2008.
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Wells Fargo Grabs Advisors With Combined $300M AUM
Wells Fargo recruited advisors from rival wirehouses managing about $300 million in combined assets.
Merrill Lynch advisors Alan Sylvestre and Caroline Wall left to join Wells Fargo Advisors in Mystic, Conn. While at Merrill, the duo managed more than $191 million in client assets.
Wells also recruited UBS advisor Trent Alton Birdsong, who was managing more than $100 million in client assets. Birdsong joined Wells' office in The Woodlands, Texas.
FINRA records show Sylvestre began his advisory career in 1996 with A.G. Edwards. He moved to UBS in 2000, and transitioned to Merrill Lynch in 2007. Wall joined UBS in 2005, and also moved to Merrill in 2007.
Birdsong had been with UBS since 2007, according to FINRA. He started his career in 1995 with Financial West Group, and later worked at Merrill Lynch.
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Merrill Lynch advisors Alan Sylvestre and Caroline Wall left to join Wells Fargo Advisors in Mystic, Conn. While at Merrill, the duo managed more than $191 million in client assets.
Wells also recruited UBS advisor Trent Alton Birdsong, who was managing more than $100 million in client assets. Birdsong joined Wells' office in The Woodlands, Texas.
FINRA records show Sylvestre began his advisory career in 1996 with A.G. Edwards. He moved to UBS in 2000, and transitioned to Merrill Lynch in 2007. Wall joined UBS in 2005, and also moved to Merrill in 2007.
Birdsong had been with UBS since 2007, according to FINRA. He started his career in 1995 with Financial West Group, and later worked at Merrill Lynch.
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Raymond James Picks Up Advisors With Combined $110M AUM
A trio of advisors who managed a combined $110 million in assets has joined Raymond James.
Advisors Jef Fitch, Pamela Appell and Marsha Werner will be joining Raymond James in Schaumburg, Ill. Fitch and Appell are coming from Wells Fargo, while Werner was previously with J.P. Morgan. Also joining the practice, which is known as Braehead Wealth Advisors of Raymond James, is Penny Tipsword. Tipsword comes from Wells and will be a senior registered client service associate.
According to Raymond James, the team collectively managed more than $110 million in client assets, with annual fees and commissions of more than $850,000.
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Advisors Jef Fitch, Pamela Appell and Marsha Werner will be joining Raymond James in Schaumburg, Ill. Fitch and Appell are coming from Wells Fargo, while Werner was previously with J.P. Morgan. Also joining the practice, which is known as Braehead Wealth Advisors of Raymond James, is Penny Tipsword. Tipsword comes from Wells and will be a senior registered client service associate.
According to Raymond James, the team collectively managed more than $110 million in client assets, with annual fees and commissions of more than $850,000.
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$1.87M Producer Joins Merrill Lynch
Merrill Lynch has recruited a $1.87 million producer from UBS.
Dale Waters, who managed more than $185 million in client assets while at UBS, earlier this month joined Merrill's Hunt Valley, Md., office where he reports to resident director Adam Grzybowski. The office is part of the Baltimore complex overseen by complex director Jeff Lubin.
Waters had been at UBS since 2008, according to FINRA records. He began his career in 1991 with Legg Mason. He later did stints at Alex Brown & Sons, Smith Barney and Morgan Stanley.
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Dale Waters, who managed more than $185 million in client assets while at UBS, earlier this month joined Merrill's Hunt Valley, Md., office where he reports to resident director Adam Grzybowski. The office is part of the Baltimore complex overseen by complex director Jeff Lubin.
Waters had been at UBS since 2008, according to FINRA records. He began his career in 1991 with Legg Mason. He later did stints at Alex Brown & Sons, Smith Barney and Morgan Stanley.
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Wells Fargo Picks Up Advisors With More than $350M in AUM
Advisors managing more than $350 million in combined assets joined Wells Fargo Advisors last month.
Two advisors joined Wells from Morgan Stanley, where they managed more than $240 million in client assets. The advisors, Dennis Shapses and David Cuellar, now work for Wells Fargo from Palo Alto, Calif.
Wells also recruited a third advisor, Shahmir Moussavi, from UBS, where he managed more than $125 million in client assets. He joined Wells Fargo in Pleasanton, Calif.
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Two advisors joined Wells from Morgan Stanley, where they managed more than $240 million in client assets. The advisors, Dennis Shapses and David Cuellar, now work for Wells Fargo from Palo Alto, Calif.
Wells also recruited a third advisor, Shahmir Moussavi, from UBS, where he managed more than $125 million in client assets. He joined Wells Fargo in Pleasanton, Calif.
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Advisor With $120M in AUM leaves UBS
Raymond James & Associates lured away a UBS advisor with $1.1 million in production.
Patrick Yates joined Raymond James in Louisville, Ky., as a financial advisor after spending 12 years with UBS where he managed more than $120 million in client assets.
Yates began his career in 1986 with Pruco Securities, a subsidiary of Prudential Financial. He also spent 11 years with Morgan Stanley. Yates reports to branch manager Thomas Hirsch.
Also moving to Raymond James is Yates' wife, Carole Yates, a marketing associate and communications manager, as well as Donna Calkin, a customer service associate. The team operates as Yates Financial Planning of Raymond James.
Patrick Yates joined Raymond James in Louisville, Ky., as a financial advisor after spending 12 years with UBS where he managed more than $120 million in client assets.
Yates began his career in 1986 with Pruco Securities, a subsidiary of Prudential Financial. He also spent 11 years with Morgan Stanley. Yates reports to branch manager Thomas Hirsch.
Also moving to Raymond James is Yates' wife, Carole Yates, a marketing associate and communications manager, as well as Donna Calkin, a customer service associate. The team operates as Yates Financial Planning of Raymond James.
Edward Jones Advisor With $114M in AUM Goes Independent
An advisor producing about $900,000 in revenue left Edward Jones for Raymond James Financial Services, the firm's independent broker-dealer.
Danielle Blunt, who managed more than $114 million in client assets while at Edward Jones, joined Raymond James in Brea, Calif. Also moving with Blunt are branch assistants Veronica Ortiz and Meredith Gauck. The team operates as Blunt Wealth Services.
Blunt started her financial services career in 2000 when she joined Edward Jones, according to FINRA records.
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Danielle Blunt, who managed more than $114 million in client assets while at Edward Jones, joined Raymond James in Brea, Calif. Also moving with Blunt are branch assistants Veronica Ortiz and Meredith Gauck. The team operates as Blunt Wealth Services.
Blunt started her financial services career in 2000 when she joined Edward Jones, according to FINRA records.
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Stifel Recruits Advisor Managing $54M
An RBC advisor managing $54 million in assets has moved to regional firm Stifel Nicolaus.
Advisor Thomas Weil joined Stifel as vice president of investments in Fresno, Calif., where he reports to branch manager Don Vincenti. In a statement, Vincenti said that Weil's addition will help the firm grow their presence in Fresno, which is located in California's Central Valley.
Weil began his career in 1979 with E.F. Hutton, according to FINRA records. He moved to Sutro & Co. in 1995, and stayed through that firm's merger with RBC in 2002.
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Advisor Thomas Weil joined Stifel as vice president of investments in Fresno, Calif., where he reports to branch manager Don Vincenti. In a statement, Vincenti said that Weil's addition will help the firm grow their presence in Fresno, which is located in California's Central Valley.
Weil began his career in 1979 with E.F. Hutton, according to FINRA records. He moved to Sutro & Co. in 1995, and stayed through that firm's merger with RBC in 2002.
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Barclays Hires New Regional Manager
A former family office executive has joined Barclays as a regional manager.
Gary S. Domoracki, who also was a regional executive for Deutsche Bank earlier in his career, brings more than 17 years of experience in wealth management services to his new position at Barclays. He will head the Boston office and report to Michael Burke, head of the eastern region.
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Gary S. Domoracki, who also was a regional executive for Deutsche Bank earlier in his career, brings more than 17 years of experience in wealth management services to his new position at Barclays. He will head the Boston office and report to Michael Burke, head of the eastern region.
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