Advisors on the Move: Wells Fargo Picks Up $1.5 Billion Mega Team
June 16, 2014 7:30 AM
Wells Fargo Recruits Mega Team
Wells Fargo enticed away an advisor duo managing a combined $1.5 billion in assets from J.P. Morgan. While the grab was a major coup for the wirehouse, several large advisor teams left Wells Fargo and other wirehouse firms to try their turn at independence. Click through our slideshow to read about these and others moves.
Wells Fargo Picks Up J.P. Morgan Team
J.P. Morgan has lost an advisor team managing a combined $1.5 billion to Wells Fargo Advisors.
The wirehouse firm reported that long-time financial advisors John Bueno, John Raetz, and Noah Robinson will be joining the firm at its Birmingham, Mich. office.
Bueno, the most senior member among the recruits, has been in the financial services industry for 19 years, according to FINRA records. Robinson has been in the industry for eight years and Raetz for seven.
Read more: here
The wirehouse firm reported that long-time financial advisors John Bueno, John Raetz, and Noah Robinson will be joining the firm at its Birmingham, Mich. office.
Bueno, the most senior member among the recruits, has been in the financial services industry for 19 years, according to FINRA records. Robinson has been in the industry for eight years and Raetz for seven.
Read more: here
Wells Fargo Loses Duo to Focus Financial
Two Wells Fargo Advisors who managed $400 million have left the firm to join the Focus Financial Partners network.
Joseph Zappia, principal and managing partner of Zappia Investment Group at Wells, and the firms former senior investment advisor, Ted Garofola, will be joining LVW Advisors of Rochester, N.Y., a unit within the Focus network of independent wealth management firms.
Read more: here
Joseph Zappia, principal and managing partner of Zappia Investment Group at Wells, and the firms former senior investment advisor, Ted Garofola, will be joining LVW Advisors of Rochester, N.Y., a unit within the Focus network of independent wealth management firms.
Read more: here
Mega Team Leaves Merrill for Focus Financial
A Merrill Lynch advisor team with $750 million in assets has moved over to the Focus Financial Partners network.
Advisors Herman Rij, Jason Cort, Brian Cort and Kori Lannon have formed Quadrant Private Wealth in Bethlehem, Pa. Rij, the senior-most member of the team, started his career in 1969, according to FINRA records. He joined Merrill in 1971. Cort joined the wirehouse in 1997, and his brother Brian became a Merrill advisor in 2002. Lannon signed on in 2007.
"The elite are voting with their feet. The best of the best advisors are leaving the wirehouses," says Focus CEO Rudy Adolf. "The momentum is terrific in the breakaway space."
Read more: here
Advisors Herman Rij, Jason Cort, Brian Cort and Kori Lannon have formed Quadrant Private Wealth in Bethlehem, Pa. Rij, the senior-most member of the team, started his career in 1969, according to FINRA records. He joined Merrill in 1971. Cort joined the wirehouse in 1997, and his brother Brian became a Merrill advisor in 2002. Lannon signed on in 2007.
"The elite are voting with their feet. The best of the best advisors are leaving the wirehouses," says Focus CEO Rudy Adolf. "The momentum is terrific in the breakaway space."
Read more: here
Merrill Team Goes Independent With HighTower
HighTower has added a Merrill Lynch team with nearly $300 million in assets to its new network.
The Ezzell Group is based in Sacramento, Calif. Founder Jason Ezzel is joined at the new firm by senior manager Alec Fisher.
Read more:here
The Ezzell Group is based in Sacramento, Calif. Founder Jason Ezzel is joined at the new firm by senior manager Alec Fisher.
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Two UBS Advisors Leave to Join Stifel
Two former UBS advisors that managed $200 million in assets are moving over to Stifel Nicolaus.
Todd Frediani and Larry Stater are leaving UBS to join Stifels Santa Rosa, Calif.-based office, according to a statement released by the firm.
Stater has more than 40 years of industry experience, and Frediani 18, according to FINRA.
Read more: here
Todd Frediani and Larry Stater are leaving UBS to join Stifels Santa Rosa, Calif.-based office, according to a statement released by the firm.
Stater has more than 40 years of industry experience, and Frediani 18, according to FINRA.
Read more: here
Steward Partners Recruits Former Morgan Stanley Team
Independent firm Steward Partners, founded last year by former Morgan Stanley branch managers, has recruited another former Morgan Stanley advisor team that went independent in 2012.
The three member team, comprised of Travis Tucker, Donald Brusca and Stacy Bazylinski, has left RPG Family Wealth Advisory where they managed about $120 million in assets and generated $1.3 million in annual revenue. The trio has reunited with Steward President Jim Gold who previously served as their branch manager in Danvers, Mass.
"It's a relationship business. There's a lot of synergy between us," says Tucker.
Read more: here
The three member team, comprised of Travis Tucker, Donald Brusca and Stacy Bazylinski, has left RPG Family Wealth Advisory where they managed about $120 million in assets and generated $1.3 million in annual revenue. The trio has reunited with Steward President Jim Gold who previously served as their branch manager in Danvers, Mass.
"It's a relationship business. There's a lot of synergy between us," says Tucker.
Read more: here
Focus Recruits Former Merrill Executive to Co-Head Breakaway Program
Focus Financial Partners has recruited a former Merrill Lynch executive to co-head a program that helps wirehouse advisors go independent, a sign that the firm is gearing up for more transitions.
Christopher Dupuy, now co-president of the Focus Connections program, is a 29-year veteran of the wirehouse world and most recently oversaw about 1,400 Merrill advisors as head of the Pacific Northwest Market, according to a statement from Focus. Dupuy claims his leadership experience and lengthy history in the industry will be assets to the Connections program.
Read more: here
Christopher Dupuy, now co-president of the Focus Connections program, is a 29-year veteran of the wirehouse world and most recently oversaw about 1,400 Merrill advisors as head of the Pacific Northwest Market, according to a statement from Focus. Dupuy claims his leadership experience and lengthy history in the industry will be assets to the Connections program.
Read more: here
Merrill Lands Two Barclays Advisors
Merrill Lynch lured away two advisors from Barclays Capital, where they managed a combined $285 million in assets.
Advisors James Clarke and Philip Weyhe joined Merrill's Park Avenue office in New York where they will report to Joseph Doonan. Clarke and Weyhe generated over $2.5 million in annual production while at Barclays.
Read more: here
Advisors James Clarke and Philip Weyhe joined Merrill's Park Avenue office in New York where they will report to Joseph Doonan. Clarke and Weyhe generated over $2.5 million in annual production while at Barclays.
Read more: here
U.S. Capital Advisors Poaches Talent From UBS and J.P. Morgan
A UBS wealth management team and an advisor from J.P. Morgan, who managed more than $500 million in combined assets, are moving to a regional firm in the Lone Star state.
Patrick Mendenhall, managing partner and head of wealth management at Houston-based U.S. Capital Advisors, says the former UBS Wealth Management Americas team alone is one of the largest to join his firm.
The group, to be based in Houston, is comprised of veteran advisors Todd LaVergne, Nick Erwin, Ryan Ringuet and Aaron Geller.
A fifth advisor, Amanda Ton, formerly of J.P. Morgan Securities, also is joining U.S. Capital. She had been at her previous job for 18 months, according to FINRA records.
Read more: here
Patrick Mendenhall, managing partner and head of wealth management at Houston-based U.S. Capital Advisors, says the former UBS Wealth Management Americas team alone is one of the largest to join his firm.
The group, to be based in Houston, is comprised of veteran advisors Todd LaVergne, Nick Erwin, Ryan Ringuet and Aaron Geller.
A fifth advisor, Amanda Ton, formerly of J.P. Morgan Securities, also is joining U.S. Capital. She had been at her previous job for 18 months, according to FINRA records.
Read more: here
RBC Recruits Morgan Stanley Director
RBC Wealth Management-U.S. signed on Christopher Anderson, a two-decade industry veteran and former Morgan Stanley executive director, for a build-out in the South. Anderson will head RBC's Atlanta complex and oversee about 45 advisors and 40 support staff in seven offices, according to a statement from the company.
Read more: here
Read more: here
RBC Pulls in UBS Advisor
A former UBS Advisor with more than $130 million in assets and $1.2 million in annual production made a move to RBC Wealth Management-U.S.
Peter Cleary and client associate Mariana Ali will be joining RBC's Norwell, Mass. Office, and report to Boston Complex Director Paul Leyden, according to a statement from the firm.
Read more: here
Peter Cleary and client associate Mariana Ali will be joining RBC's Norwell, Mass. Office, and report to Boston Complex Director Paul Leyden, according to a statement from the firm.
Read more: here
