The recruiting wars rage on as Merrill Lynch lured a million-dollar producer from Morgan Stanley Smith Barney and Morgan Stanley, in return, recruited an advisor from Merrill, plus a team from UBS.
Merrill, which is a unit of Bank of America [BAC], recruited Daniel Honan to its Portland, Maine office from Morgan Stanley. Honan, a 24-year veteran, generated about $1.4 million in production on assets under management of $180 million, according to Merrill.
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