Merrill Lynch

The wirehouse’s pipeline for incoming brokers is at a two-year high.

The hire comes about a week after the boutique wealth manager lost a similarly-sized team to rival Morgan Stanley.

These firms scored big with advisors managing $1 billion or more.

The 18-month-old Sanctuary Wealth caters to breakaways but is also open to independent advisors as well, CEO Jim Dickson says.

The independent broker-dealer has seen significant growth in the last three years.

The wirehouse is giving the ultrahigh-net-worth crowd a more complete view of their finances, says Don Plaus head of private wealth management.

Six of the new recruits broke away from Merrill Lynch.

Sanctuary Wealth firms now have over $10 billion in client assets.

Two teams with $344 million in total AUM are tasked with expanding the firm’s presence in Mexico and South America.

The firm said this is the first of several new teams it plans to add this summer.

“When we think about these offerings, there are no hard lines that are drawn here,” said Merrill Lynch boss Andy Sieg.

The regional BD opened its third new location in Texas this year.

The wirehouse loses four more advisors to the regional BD.

For First Republic, “the pain index is likely somewhere between excruciating and traumatic,” says one expert. But few realize how much the bank got for its money.

Two of the new hires are brothers who spent more than 20 years at the wirehouse.

One advisor has more than three decades of experience in the business.

One departing practice managed $100 million in assets.

Several of the firm’s new hires are industry veterans with more than 30 years of industry experience.

The win follows a first-quarter report showing it grew its ranks 3.4% over the prior year.

The regional BD has approximately 1,800 advisors.