J.P. Morgan Securities picked up two UBS advisors who managed more than $753 million in client assets, a spokeswoman confirmed.
They're the latest hires for the high-end wealth management unit of JPMorgan Chase, which has been aggressively courting elite talent. In June, J.P. Morgan Securities
So far this year, the firm has recruited top advisors away from rivals, including
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The firm achieved a record 7,719 independent and employee advisors in the second quarter.
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Compensation related to financial advisor recruiting fell 22% for the second quarter.
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Wirehouse policy changes are bearing fruit and leaving advisor career options in flux.
July 18 -
Total broker head count dropped by 173 from the prior quarter, according to the wirehouse.
July 13
J.P. Morgan Securities' newest hires, Patrick Amato and Tad Waldbauer, joined the firm in New York as financial advisors and managing directors. They report to Regional Director Mike Lee.
The duo serves ultra-high net worth clients and business owners.
They made the move for J.P. Morgan's platform and services model, they said in a statement.
Amato and Waldbauer had been with UBS since 2009, according to FINRA BrokerCheck records. They previously worked at Merrill Lynch for eight years.
A UBS spokeswoman declined to comment.
