Broker-dealer Waddell & Reed has recruited six new financial advisors, for a total $141.4 million in new assets under management.

The new arrivals -- who will all be working as independent advisors -- come from Morgan Stanley, LPL, Ameriprise and other broker-dealers. So far this year, 52% of the firm's recruits have come from wirehouses and regionals, says Cathie Suchecki, Waddell & Reed’s senior vice president and director of recruiting, while, 32% have come from independents, and 16% from banks and insurance firms. 

“While across the industry recruiting results have been slow for the first part of the year, we believe our results are in line with our long-term goals,” Suchecki says.

These latest recruits will work in registered offices across the country. The new advisors, listed with their assets under management before the move, are: 

  • Carole Lane of Costa Mesa, Calif., formerly with MassMutual. (AUM: $23 million)
  • J. Thaddeus McGaffey of Detroit, formerly with Ameriprise Financial. (AUM: $36.3 million)
  • Michael Peters of Torrance, Calif., formerly with Crowell Weedon. (AUM: $18 million)
  • Kris Schilperoort of Seattle, formerly of Morgan Stanley. (AUM: $20M)
  • Daniel Trerotola of Des Moines, Iowa, formerly with LPL Financial. (AUM: $21 million)
  • Robert Yelenovsky of Pittsburgh, formerly of Morgan Stanley (AUM: $23.1 million)

Founded in 1937, Waddell & Reed provides financial planning services to clients through its network of nearly 1,800 financial advisors working in more than 160 registered offices.
Read More:

Register or login for access to this item and much more

All Financial Planning content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access