Advisors on the Move: Morgan Grabs $4M Advisor From Merrill
November 23, 2015 8:17 AM
Advisors on the Move: Morgan Grabs $4M Advisor From Merrill
Morgan Stanley picked up a Merrill Lynch advisor who previously generated $4 million in revenue. Meanwhile, Merrill Lynch capitalized on a major restructuring initiative by Credit Suisse as the wirehouse welcomed an advisor from the Swiss firm with $600 million in AUM. Also, UBS saw the biggest recruitment this month after two former Credit Suisse advisors with a combined $1 billion in client assets joined the firm's office in Crescent, Texas.
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.
Morgan Stanley Nabs a $5B Team
Morgan Stanley lured away a team managing more than $5 billion in client assets from Credit Suisse, a spokeswoman says.
The thirteen-member team has three private wealth advisors on it: Richard Zinman, Anthony Dertouzos and John Moreno. A Credit Suisse spokeswoman declined to comment on the departures.
They group joined Morgan Stanley in New York on Thursday, and reports to Park Avenue Complex Manager Nelson Gaertner. "We are pleased to welcome this exceptional team to Morgan Stanley," said Vince Lumia, Head of Morgan Stanley Private Wealth Management.
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Image: Bloomberg
The thirteen-member team has three private wealth advisors on it: Richard Zinman, Anthony Dertouzos and John Moreno. A Credit Suisse spokeswoman declined to comment on the departures.
They group joined Morgan Stanley in New York on Thursday, and reports to Park Avenue Complex Manager Nelson Gaertner. "We are pleased to welcome this exceptional team to Morgan Stanley," said Vince Lumia, Head of Morgan Stanley Private Wealth Management.
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Raymond James Sets Recruiting Record: $3B Team
Merrill Lynch lost a team managing more than $2.9 billion to Raymond James & Associates, a spokeswoman said.
The move set a new recruiting record for Raymond James, surpassing a $2.4 billion team that left Morgan Stanley to join Raymond James in Florida.
Advisors Chris Mahoney, his brother Kevin Mahoney, Mark C. Marotta, Kristen Koluch, and Phil Murphy joined the firm in West Nyack, N.Y., about 40 miles from Manhattan. The team, which is led by Mahoney, generated $7.7 million in annual production, according to Raymond James.
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The move set a new recruiting record for Raymond James, surpassing a $2.4 billion team that left Morgan Stanley to join Raymond James in Florida.
Advisors Chris Mahoney, his brother Kevin Mahoney, Mark C. Marotta, Kristen Koluch, and Phil Murphy joined the firm in West Nyack, N.Y., about 40 miles from Manhattan. The team, which is led by Mahoney, generated $7.7 million in annual production, according to Raymond James.
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$4M Advisor Jumps to Morgan From Merrill
Morgan Stanley said the firm recruited a Merrill Lynch advisor generating more than $4 million in annual revenue.
Michael Wu joined Morgan Stanley Private Wealth Management as an international client advisor in Pasadena, Calif., where he reports to complex manager Cynthia Newman.
He oversees $355 million in client assets, according to the wirehouse.
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Michael Wu joined Morgan Stanley Private Wealth Management as an international client advisor in Pasadena, Calif., where he reports to complex manager Cynthia Newman.
He oversees $355 million in client assets, according to the wirehouse.
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UBS Acquires Advisors With $3.5B in Combined AUM
In a recruiting sweep, UBS hired four Credit Suisse teams managing more than $3.5 billion in client assets, UBS said.
Among the recent hires is a two-member team that generated $4.6 million in revenue and oversaw $462 million in client assets. Advisors David Smith and Patrick Moore joined UBS' office in Dallas where they report to Director Tommy Stacy.
In Houston, UBS' Private Wealth Management unit picked up a three-advisor teams that generated nearly $10 million in annual revenue and oversaw more than $1.3 billion in client assets.
Also joining the Houston office are advisors Mike Hood and Mike Green. The duo generated more than $3 million in annual revenue and oversaw more than $850 million in client assets.
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Image: Bloomberg
Among the recent hires is a two-member team that generated $4.6 million in revenue and oversaw $462 million in client assets. Advisors David Smith and Patrick Moore joined UBS' office in Dallas where they report to Director Tommy Stacy.
In Houston, UBS' Private Wealth Management unit picked up a three-advisor teams that generated nearly $10 million in annual revenue and oversaw more than $1.3 billion in client assets.
Also joining the Houston office are advisors Mike Hood and Mike Green. The duo generated more than $3 million in annual revenue and oversaw more than $850 million in client assets.
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Morgan Stanley Lures Advisors With Nearly $2B in AUM
Morgan Stanley said it had recently recruited advisors managing nearly $2 billion in client assets.
In one of the largest recent moves to Morgan, the wirehouse pulled in a team from Credit Suisse that generated $6.4 million in annual revenue and oversaw $610 million in client assets.
Advisors William Gambrill and Josef Najar joined Morgan in New York where they report to Dave Turetzky, branch manager.
Former Barclays advisor James Fitzgerald also joined Morgan in New York. While at the British firm he generated more than $1 million in annual production and oversaw $960 million in client assets, according to Morgan. He reports to Complex Manager Ben Firestein.
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In one of the largest recent moves to Morgan, the wirehouse pulled in a team from Credit Suisse that generated $6.4 million in annual revenue and oversaw $610 million in client assets.
Advisors William Gambrill and Josef Najar joined Morgan in New York where they report to Dave Turetzky, branch manager.
Former Barclays advisor James Fitzgerald also joined Morgan in New York. While at the British firm he generated more than $1 million in annual production and oversaw $960 million in client assets, according to Morgan. He reports to Complex Manager Ben Firestein.
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Former $700M Merrill Team Goes Indy
Four advisors from Merrill Lynch with $700 million in combined client assets have left the firm to launch an independent practice with Dynasty Financial Partners.
Former wirehouse advisors Ross Fox, Matthew Papazian, Marti Awad and Sarah Keys have collectively moved to the independent space with Cardan Capital Partners, named after the Cardan suspension navigational tool, which is used to ensure a ship's stability in both calm and rough waters, according to Dynasty.
The Denver-based firm will focus primarily on corporate executives, professionals, business owners and entrepreneurs, according to the firm.
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Image: The team at Cardan Capital Partners will focus primarily on corporate executives, professionals, business owners and entrepreneurs.
Former wirehouse advisors Ross Fox, Matthew Papazian, Marti Awad and Sarah Keys have collectively moved to the independent space with Cardan Capital Partners, named after the Cardan suspension navigational tool, which is used to ensure a ship's stability in both calm and rough waters, according to Dynasty.
The Denver-based firm will focus primarily on corporate executives, professionals, business owners and entrepreneurs, according to the firm.
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Image: The team at Cardan Capital Partners will focus primarily on corporate executives, professionals, business owners and entrepreneurs.
$600M Advisor Moves to Merrill
Merrill Lynch picked up a Credit Suisse advisor who oversaw $600 million in AUM, a spokeswoman said.
Advisor Nicole Andres joined Merrill's Private Banking & Investment Group in New York, where she reports to Mollie Colavita, regional managing director.
Andres started her career in 1991 at Donaldson, Lufkin & Jenrette, according to FINRA BrokerCheck records.
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Advisor Nicole Andres joined Merrill's Private Banking & Investment Group in New York, where she reports to Mollie Colavita, regional managing director.
Andres started her career in 1991 at Donaldson, Lufkin & Jenrette, according to FINRA BrokerCheck records.
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$525M Wells Fargo Team Moves to LPL
A group that oversaw $525 million in client assets has left Wells Fargo to join LPL Financial's hybrid RIA platform, Stratos Wealth Partners, the firm said.
Brown Wealth Management, a primarily fee-based firm focused on high-net-worth investors, is led by Jeffrey Brown and supported by advisors Patrick Ford and Tyler Morris, the firm says.
Allison Williams, who also made the move, will serve as chief operating officer, according to the firm.
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Brown Wealth Management, a primarily fee-based firm focused on high-net-worth investors, is led by Jeffrey Brown and supported by advisors Patrick Ford and Tyler Morris, the firm says.
Allison Williams, who also made the move, will serve as chief operating officer, according to the firm.
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J.P. Morgan Lures $450M Barclays Team
Two advisors managing more than $450 million in client assets have joined J.P. Morgan Securities from Barclays, according to a spokeswoman.
John Koecheler and Kevin McCooey joined J.P. Morgan in New York where they report to Mike Lee, regional director.
McCooey said in a statement that they joined the firm because of its boutique model and platform, saying it was the best fit for the team's clients.
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John Koecheler and Kevin McCooey joined J.P. Morgan in New York where they report to Mike Lee, regional director.
McCooey said in a statement that they joined the firm because of its boutique model and platform, saying it was the best fit for the team's clients.
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FiNet Lures Advisors With $327M in Combined AUM
Wells Fargo Advisors Financial Network has added six advisors with $329 million in combined client assets, the firm said.
Former Janney Montgomery Scott Advisors Steve Marchel, Tracy Santoro and Dan Campbell brought a combined $168 million in AUM to the team's newly opened independent practice with FiNet in Margate City, N.J., the firm says.
Also making the move, former First Command advisor Martin Robbins has opened an independent practice with FiNet in Rochester, N.Y. Ex-Edward Jones advisor Will Haase moved to an existing FiNet practice in Cincinnati and former LPL Advisor Carrie Turcotte joined FiNet's RiverCrest Wealth Advisors in Chattanooga, Tenn.
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Former Janney Montgomery Scott Advisors Steve Marchel, Tracy Santoro and Dan Campbell brought a combined $168 million in AUM to the team's newly opened independent practice with FiNet in Margate City, N.J., the firm says.
Also making the move, former First Command advisor Martin Robbins has opened an independent practice with FiNet in Rochester, N.Y. Ex-Edward Jones advisor Will Haase moved to an existing FiNet practice in Cincinnati and former LPL Advisor Carrie Turcotte joined FiNet's RiverCrest Wealth Advisors in Chattanooga, Tenn.
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$300M Merrill Team Goes Indy
Merrill Lynch advisors with $300 million in client assets have gone over to the independent side of Raymond James, the firm said.
Peter Loncar and Brent Stein had $2 million in annual revenue before leaving the wirehouse, according to Raymond James. Both, operating as Rivertowne Advisors, are based in Beaver, Pa., just northwest of Pittsburgh. Their practice will focus on retirement planning, both for individual clients and for businesses.
Loncar had spent 25 years at Merrill, according to FINRA BrokerCheck records. Stein joined the wirehouse in 2007, and teamed up with Loncar the following year.
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Peter Loncar and Brent Stein had $2 million in annual revenue before leaving the wirehouse, according to Raymond James. Both, operating as Rivertowne Advisors, are based in Beaver, Pa., just northwest of Pittsburgh. Their practice will focus on retirement planning, both for individual clients and for businesses.
Loncar had spent 25 years at Merrill, according to FINRA BrokerCheck records. Stein joined the wirehouse in 2007, and teamed up with Loncar the following year.
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J.P. Morgan Grabs $240M Team From Credit Suisse
J.P. Morgan Securities recruited two Credit Suisse financial advisors who managed $240 million in client assets, a spokeswoman confirmed.
Advisors Christian Habitz and Sarah Damsgaard joined J.P. Morgan's Chicago office, where they report to Regional Director Michael Maron.
In a statement, Habitz and Damsgaard said that they joined J.P. Morgan because its resources and "high-touch boutique model" was the best fit for their practice and clients.
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Image: Former Credit Suisse Advisors Christian Habitz and Sarah Damsgaard join J.P. Morgan Securities with $120 million in combined AUM.
Advisors Christian Habitz and Sarah Damsgaard joined J.P. Morgan's Chicago office, where they report to Regional Director Michael Maron.
In a statement, Habitz and Damsgaard said that they joined J.P. Morgan because its resources and "high-touch boutique model" was the best fit for their practice and clients.
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Image: Former Credit Suisse Advisors Christian Habitz and Sarah Damsgaard join J.P. Morgan Securities with $120 million in combined AUM.
Baird Hires Advisors Generating Nearly $2M
Two advisors generating almost $2 million in annual revenue have joined Baird, a spokesman said.
In the larger of two moves, Wells Fargo advisor Kim Giannone joined Baird's new office in Grand Junction, Colo., which is located in the far western part of the Rocky Mountain state.
While at Wells, she generated $1 million in annual revenue and oversaw $105 million in client assets, according to a Baird spokesman.
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Image: Kim Giannone joins Baird with $105 million in AUM.
In the larger of two moves, Wells Fargo advisor Kim Giannone joined Baird's new office in Grand Junction, Colo., which is located in the far western part of the Rocky Mountain state.
While at Wells, she generated $1 million in annual revenue and oversaw $105 million in client assets, according to a Baird spokesman.
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Image: Kim Giannone joins Baird with $105 million in AUM.
J.P. Morgan Nabs a $200M Credit Suisse Advisor
J.P. Morgan Securities recruited an advisor managing $200 million in client assets from Credit Suisse, a spokeswoman confirms.
Eggers spent ten years at Credit Suisse, according to FINRA BrokerCheck records. Prior to that, he was a managing director at Neuberger Berman from 1994 until 2005.
His focus is on high-net-worth clients and their family offices. He says he was drawn to J.P. Morgan because of its boutique model and platform, adding that the firm "presented a unique cultural fit."
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Image: Bloomberg
Eggers spent ten years at Credit Suisse, according to FINRA BrokerCheck records. Prior to that, he was a managing director at Neuberger Berman from 1994 until 2005.
His focus is on high-net-worth clients and their family offices. He says he was drawn to J.P. Morgan because of its boutique model and platform, adding that the firm "presented a unique cultural fit."
To read more, click here
Image: Bloomberg
$320M Advisor Leaves Credit Suisse for William Blair
William Blair recruited a Chicago-based advisor from Credit Suisse, the firm said.
Former Credit Suisse Advisor Lawrence D. Gilbert managed about $320 million while at the firm, according to a person familiar with the matter.
Gilbert started his career at Goldman Sachs in 1999, according to FINRA BrokerCheck records. He moved to HighTower in 2009, and transition to Credit Suisse four years later.
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Image: Veteran advisor Lawrence D. Gilbert left Credit Suisse to join William Blair.
Former Credit Suisse Advisor Lawrence D. Gilbert managed about $320 million while at the firm, according to a person familiar with the matter.
Gilbert started his career at Goldman Sachs in 1999, according to FINRA BrokerCheck records. He moved to HighTower in 2009, and transition to Credit Suisse four years later.
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Image: Veteran advisor Lawrence D. Gilbert left Credit Suisse to join William Blair.
Steward Partners Recruits $1.75M Advisors
Two advisors who generated a combined $1.75 million in annual production left Oppenheimer & Co. to join Steward Partners, an independent firm affiliated with Raymond James, a spokesman said.
Together, the advisors managed $175 million in client assets, said the spokesman in an On Wall Street exclusive report.
CEO Jim Gold expects to recruit more in the firm's target growth region, the Northeast, though he says they would consider unique opportunities outside it. "I would tell you that the volume of activity and that the appetite and interest is incredible," he says.
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Together, the advisors managed $175 million in client assets, said the spokesman in an On Wall Street exclusive report.
CEO Jim Gold expects to recruit more in the firm's target growth region, the Northeast, though he says they would consider unique opportunities outside it. "I would tell you that the volume of activity and that the appetite and interest is incredible," he says.
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$1.3M Morgan Team Moves to RBC
A Morgan Stanley team that generated $1.3 million in annual revenue has left the wirehouse for RBC Wealth Management, a spokeswoman said.
The team, operating as the Falcon Group, joined RBC in Denver, where they report to Director Jeff Heberling.
Advisors Ron Zimmermann, Gary Peterson, and Phillip Dispense oversee approximately $132 million in client assets, RBC said.
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The team, operating as the Falcon Group, joined RBC in Denver, where they report to Director Jeff Heberling.
Advisors Ron Zimmermann, Gary Peterson, and Phillip Dispense oversee approximately $132 million in client assets, RBC said.
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Image: Bloomberg
$120M Merrill Advisor Goes Independent
A Merrill Lynch advisor with $120 million in client assets has left the wirehouse to go independent with Washington Wealth Management, the firm says.
Chuck Hilliard, founder and managing director of Freedom Pointe Wealth Advisors, opened the new practice with the San Diego-based Washington Wealth, an independent hybrid RIA that supports both fee- and commission-based independent advisors, according to the firm.
The aspirations for my career and practice are twofold. I want to be an entrepreneurial, independent financial advisor, and I want to build a multi-generational firm with my three daughters," Hilliard says.
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Image: Former Merrill Lynch Advisor Chuck Hilliard has gone independent with Washington Wealth Management.
Chuck Hilliard, founder and managing director of Freedom Pointe Wealth Advisors, opened the new practice with the San Diego-based Washington Wealth, an independent hybrid RIA that supports both fee- and commission-based independent advisors, according to the firm.
The aspirations for my career and practice are twofold. I want to be an entrepreneurial, independent financial advisor, and I want to build a multi-generational firm with my three daughters," Hilliard says.
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Image: Former Merrill Lynch Advisor Chuck Hilliard has gone independent with Washington Wealth Management.
FiNet Lures $104M Morgan Team
A Morgan Stanley team with $104 million in client assets has left the wirehouse to open an independent practice with Wells Fargo Advisors Financial Network, according to the firm.
After nearly seven years with Morgan Stanley, Robert Hrnicek has opened the independent firm Cohonesto Financial with FiNet in Dallas, Wells Fargo says.
Prior to joining Morgan Stanley in 2009, Hrnicek worked for Citigroup Global Markets and Merrill Lynch, where he got his start in the securities industry in 2001, according to FINRA's BrokerCheck.
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Image: Bloomberg
After nearly seven years with Morgan Stanley, Robert Hrnicek has opened the independent firm Cohonesto Financial with FiNet in Dallas, Wells Fargo says.
Prior to joining Morgan Stanley in 2009, Hrnicek worked for Citigroup Global Markets and Merrill Lynch, where he got his start in the securities industry in 2001, according to FINRA's BrokerCheck.
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Image: Bloomberg
U.S. Trust Announces New Hires
U.S. Trust announced new hires in the last month to serve its growing demand for wealth management services, the firm says.
Former HSBC Private Bank Advisor Scott C. Rosser joins U.S. Trust as a private client advisor at the firm's office in Los Angeles, according to U.S. Trust.
Meanwhile, ex-Merrill Lynch Advisor Denise Kenny joins U.S. Trust as a private client advisor in Chicago, the firm says.
Image: Bloomberg
Former HSBC Private Bank Advisor Scott C. Rosser joins U.S. Trust as a private client advisor at the firm's office in Los Angeles, according to U.S. Trust.
Meanwhile, ex-Merrill Lynch Advisor Denise Kenny joins U.S. Trust as a private client advisor in Chicago, the firm says.
Image: Bloomberg
