Merrill Lynch

The new hires generated approximately $5 million in production before making the move.

The wirehouse is also tweaking pay related to cash solutions for clients.

Disclosing such information is rare in wealth management, but long overdue, says Andy Sieg.

It’s another big get for a bank that has been busily luring away top talent from the wirehouses.

The firm currently fields 40 teams, most of which have joined this year.

Steve Alch, a U.S. Army veteran, has been with the company since 2001 and has overseen the wirehouse’s operations in Orlando.

The company is turning to what it sees as a talent pool with proven success rates.

Choosing their own technology for clients was a big draw for the advisors, who affiliated with Kestra.

The free lunches are over. Sort of.

The firm expands on both coasts with Glasband Stempel Wealth Management in Florida and Carol Wilshire in California.