UBS advisors head to Merrill, Ameriprise, Raymond James: Advisor Moves

Published July 25, 2025 12:45 PM

Updated July 25, 2025 3:52 PM

1 Min Read

UBS continues to lose ground this week as advisors bound for Merrill, Ameriprise and Raymond James.

At the same time, EP Wealth significantly grew its assets, and Osaic continues to expand its advisor succession channel. Read about it all below.

Merrill pulls $800M team from UBS

Merrill recruited from UBS to expand its Washington, D.C., market presence.

The Washington Wealth Management Group, which had managed nearly $800 million in client assets, will join Merrill under the leadership of Managing Director David Andreadis. Alongside him at Merrill are Richard Haskin, Danielle Tersaga, Cole Andreadis, Steven Hrones, Susan Harrison and Daniel Corr.

Andreadis brings 33 years of experience, working at Morgan Stanley starting in 2000, then moving to Citigroup in 2004 and Morgan Stanley Smith Barney in 2009 before going to UBS in 2011.

Ken Wolter/wolterke - stock.adobe.com

Ameriprise expands its channel with a $480M AUM team from UBS

A father-son and father-daughter team from UBS is headed to Ameriprise for the "autonomy to build a team."

Chuck Heare and his son, Ross, along with Tommy Goth and his daughter, Jennifer, have joined Ameriprise's Q5 Wealth Management channel, a financial advisory practice based in Beaumont, Texas, that was owned by UBS until 2024. The team was formerly known as Goth Heare Wealth Management Group, where they managed over $480 million in client assets.

Q5 Wealth Management currently overlooks 11 financial advisors who manage more than $1.9 billion in client assets. The firm added six financial advisors in the past year.

Chuck Heare holds 37 years of experience, having worked previously at Merrill Lynch and Morgan Stanely . He worked at UBS for nearly 20 years, starting in 2005. Ross Heare has 12 years of experience and joined his father at UBS in 2017.

Tommy Goth began his career at Citigroup in 1994 and moved to UBS in 2008. Jennifer Goth began her career nine years ago at UBS.

Raymond James recruits advisors with $400M from UBS

A pair of wealth managers is leaving UBS to join Raymond James & Associates, the company's employee advisor channel.

Jonathan Israel, along with registered client service associate Jake Balcom, will lead Legacy Point Wealth Management of Raymond James in Woodland Hills, California. The two served families, corporate retirement plans and business owners. Israel had managed about $400 million in client assets at UBS.

Israel began his career at Edward Jones in 2006 before moving to UBS in 2011. Balcom began his career at UBS in 2023.

EP Wealth adds a $1.2B AUM to its firm

RIA firm EP Wealth has completed its seventh acquisition of the year.

Rappaport Reiches Capital Management, located in Skokie, Illinois, a suburb near Chicago, was founded in 2005. The deal will grow EP Wealth's assets under management by $1.2 billion. The firm will now manage over $36.4 billion in assets spread across 54 offices and 19 states.

The firm is led by the two founders, Shari Greco Reiches and David Rappaport, who will also bring along all 13 members of their team, most of whom are female advisors.

LPL recruits advisors with $400M to its employee channel

LPL Financial continues to expand Linsco, its direct-employee advisor channel, with two Wells Fargo advisors.

Jared Black and Richard Brokaw are moving Wyoming Asset Advisors in Cheyenne, Wyoming, to Linsco. The pair have worked together for over three decades with $400 million in client assets and mostly focused on retirement planning.

Black has 36 years of industry experience and spent 14 years as an advisor at Wells Fargo. Brokaw holds 31 years of experience and began his time at Wells Fargo in 2008.

NewEdge Advisors pulls $540M advisory team from Stifel

NewEdge Advisors is tapping into Nebraska with an advisory team from Stifel.

Cleartrek Wealth Partners is joining NewEdge Advisors in Lincoln, Nebraska. The team is partnering with Goldman Sachs to custody client assets. It consists of seven members and is led by Loy Olson, Matt Olson, Mike Todd and Mitch Bergen, who had managed nearly $650 million in client assets at Stifel.

Loy Olson, who will serve as the team's chairman, has 48 years of industry experience, including two years at Wells Fargo before joining Stifel in 2010. Matt Olson began his career in 2008 at Wells Fargo and moved to Stifel in 2010. Todd began his career in 2018 with Stifel. Bergen entered the industry through Stifel in 2023.

NewEdge has over 450 advisors and $34 billion in brokerage and advisory assets.

Osaic adds a $700M team

As part of the company's W-2 advisor succession strategy, Osaic has acquired a majority ownership in Innovative Wealth Team for a "turnkey succession."

Innovative Wealth Team was founded by Brian Heapps in 2017 in Nashville, Tennessee. The firm has managed $700 million in client assets for advisors seeking succession.

Heapps has 38 years of industry experience and began his time at Osaic (then Advisor Group) in 2018.

Osaic Advisors, launched in 2023, helps advisors manage succession. This year, Osaic completed a $13.5 billion acquisition of Boston-based CW Advisors and added Florida-based Payant Wealth Management Group to its independent model.