Advisors on the Move: $1.4B Advisors Leave Credit Suisse for JPM
December 23, 2015 4:48 PM
Advisors on the Move: $1.4B Advisors Leave Credit Suisse for JPM
Credit Suisse lost two advisors who managed more than $1 billion in client assets to J.P. Morgan, a spokeswoman said. The Zurich-based firm has been losing advisors since announcing its intention to exit the U.S. wealth management market and having signed an exclusive recruiting deal with Wells Fargo.
However, it wasn't the only firm that lost advisors in this latest roundup. A Morgan Stanley team that managed $450 million went independent with HighTower while a UBS advisor, who oversaw $300 million in client assets, departed for RBC.
See these and all the latest recruiting moves by clicking through our slideshow.
However, it wasn't the only firm that lost advisors in this latest roundup. A Morgan Stanley team that managed $450 million went independent with HighTower while a UBS advisor, who oversaw $300 million in client assets, departed for RBC.
See these and all the latest recruiting moves by clicking through our slideshow.
Advisors With $1.4B Leave Credit Suisse For J.P. Morgan
Two Credit Suisse teams managing over $1.4 billion in combined client assets passed on an offer to join Wells Fargo, choosing instead to move to J.P. Morgan, a spokeswoman confirmed.
Advisors David Greene, Andrew Firstman, Mark Horncastle and Christian Cram joined J.P. Morgan in Atlanta, where they report to Regional Director Pete Secret.
In a statement, Greene said he made the move to J.P. Morgan because of its boutique model and resources.
To read more, click here
Image: Bloomberg
Advisors David Greene, Andrew Firstman, Mark Horncastle and Christian Cram joined J.P. Morgan in Atlanta, where they report to Regional Director Pete Secret.
In a statement, Greene said he made the move to J.P. Morgan because of its boutique model and resources.
To read more, click here
Image: Bloomberg
Former UBS Advisor with $300M in AUM Joins RBC
A UBS advisor managing $300 million in client assets has left the wirehouse for a position with RBC Wealth Management, according to the firm.
Greg Kenzik, who has 29 years of industry experience, joined RBC's office in Paramus, N.J.
Kenzik generated $1.35 million in annual production while at UBS, RBC said in a statement.
To read more, click here
Image: Bloomberg.
Greg Kenzik, who has 29 years of industry experience, joined RBC's office in Paramus, N.J.
Kenzik generated $1.35 million in annual production while at UBS, RBC said in a statement.
To read more, click here
Image: Bloomberg.
$200M Merrill Team Leaves for Snowden Lane
A Merrill Lynch team that oversaw approximately $200 million in client assets has left the wirehouse to join Snowden Lane Partners, the firm said.
The group, which specializes in serving Latin American clients, opened a new office for Snowden in San Diego.
Team leader Rick Leyva, who joined Snowden as a partner and managing director, says it wasn't an easy decision to leave Merrill, where he had worked since 2007.
To read more, click here
The group, which specializes in serving Latin American clients, opened a new office for Snowden in San Diego.
Team leader Rick Leyva, who joined Snowden as a partner and managing director, says it wasn't an easy decision to leave Merrill, where he had worked since 2007.
To read more, click here
Morgan Hires $350M Team
Morgan Stanley recruited a Credit Suisse team managing $350 million in client assets, a spokeswoman for the wirehouse said.
Advisors Andrew Kaskel, David Cundey, Burt Hilton and Scott Quinto joined Morgan Stanley's New York Office, where they report to Justin Ferdula, branch manager.
Morgan Stanley's new hires are all industry veterans with more than 20 years of industry experience each.
To read more, click here
Image: Image: Bloomberg.
Advisors Andrew Kaskel, David Cundey, Burt Hilton and Scott Quinto joined Morgan Stanley's New York Office, where they report to Justin Ferdula, branch manager.
Morgan Stanley's new hires are all industry veterans with more than 20 years of industry experience each.
To read more, click here
Image: Image: Bloomberg.
Raymond James Grabs $450M Team From Wells Fargo
A Wells Fargo team which oversaw $450 million in client assets moved to Raymond James & Associates, the firm said.
Advisors Sanford Family, Kenneth Leonard and Brian Crowley generated $3 million in annual revenues while at the wirehouse, according to Raymond James.
The trio, operating as Sanford Family Financial of Raymond James from the firm's first employee office in Albany, N.Y., was looking to leave Wells Fargo because of the push the wirehouse was making to sell more bank products, the team says.
To read more, click here
Image: Sanford Family
Advisors Sanford Family, Kenneth Leonard and Brian Crowley generated $3 million in annual revenues while at the wirehouse, according to Raymond James.
The trio, operating as Sanford Family Financial of Raymond James from the firm's first employee office in Albany, N.Y., was looking to leave Wells Fargo because of the push the wirehouse was making to sell more bank products, the team says.
To read more, click here
Image: Sanford Family
$1M Team Leaves Merrill for Raymond James
Two former Merrill Lynch advisors with $1 million in annual client revenues have joined the employee side of Raymond James, a director at the firm said.
Jeffrey Tennyson and Thomas Phillips signed on with the regional broker-dealer, Jim Hamilton, the firm's South Atlantic regional director, said in a statement. Prior to the move, Tennyson and Phillips oversaw $136 million in client assets, according to Raymond James.
Both operate as Tennyson Phillips Wealth Management of Raymond James, and are based in Albany, Ga.
To read more, click here
Jeffrey Tennyson and Thomas Phillips signed on with the regional broker-dealer, Jim Hamilton, the firm's South Atlantic regional director, said in a statement. Prior to the move, Tennyson and Phillips oversaw $136 million in client assets, according to Raymond James.
Both operate as Tennyson Phillips Wealth Management of Raymond James, and are based in Albany, Ga.
To read more, click here
$156M Advisor Leaves Morgan Stanley for FiNet
A former Morgan Stanley advisor who oversaw more than $156 million in client assets has joined the independent side of Wells Fargo, a spokeswoman said.
Wendy Bennett moved from the wirehouse to the Wells Fargo Advisors Financial Network, opening an independent practice in Butler, Pa., according to the spokeswoman.
The new practice will operate under the name Bennett Associates Wealth Management.
To read more, click here
Image: Image: Bloomberg.
Wendy Bennett moved from the wirehouse to the Wells Fargo Advisors Financial Network, opening an independent practice in Butler, Pa., according to the spokeswoman.
The new practice will operate under the name Bennett Associates Wealth Management.
To read more, click here
Image: Image: Bloomberg.
Raymond James Grabs Advisors Generating $1.5M
Two advisors generating about $1.5 million in combined annual revenue left Oppenheimer and Wells Fargo for Raymond James, a director at the firm said.
James McDermott and Matthew Gall joined Raymond James' employee side in Chicago, John Kuklenski, the firm's northern division director, said in a statement. Both report to Brian Lampsa, branch manager.
McDermott and Gall made the move in October, according to FINRA BrokerCheck records. Together, they oversaw about $110 million in combined client assets.
To read more, click here
James McDermott and Matthew Gall joined Raymond James' employee side in Chicago, John Kuklenski, the firm's northern division director, said in a statement. Both report to Brian Lampsa, branch manager.
McDermott and Gall made the move in October, according to FINRA BrokerCheck records. Together, they oversaw about $110 million in combined client assets.
To read more, click here
Advisors With $415M Combined AUM Join Ameriprise
Advisors with $415 million in combined assets have made the move to Ameriprise, a spokesman said.
The recruits include UBS advisor Josh Shepherd and Stifel advisor Gary Whittaker. Both joined the employee channel at Ameriprise, according to the firm. Shepherd, based in Hingham, Mass., had $68 million in client assets before making the move, and Whittaker, located in Jacksonville, Fla., had $61 million, the spokesman said.
Three other recruits went over to the independent side at Ameriprise. Former Raymond James advisor Scott Husnick of Amery, Wis., oversaw $143 million in client assets prior to making the move, according to Ameriprise's spokesman. Former Janney Montgomery Scott advisor Fredric Woloshin had $71 million in client assets, according to the spokesman. Woloshin is based in Conshohocken, Pa.
To read more, click here
Image: Bloomberg.
The recruits include UBS advisor Josh Shepherd and Stifel advisor Gary Whittaker. Both joined the employee channel at Ameriprise, according to the firm. Shepherd, based in Hingham, Mass., had $68 million in client assets before making the move, and Whittaker, located in Jacksonville, Fla., had $61 million, the spokesman said.
Three other recruits went over to the independent side at Ameriprise. Former Raymond James advisor Scott Husnick of Amery, Wis., oversaw $143 million in client assets prior to making the move, according to Ameriprise's spokesman. Former Janney Montgomery Scott advisor Fredric Woloshin had $71 million in client assets, according to the spokesman. Woloshin is based in Conshohocken, Pa.
To read more, click here
Image: Bloomberg.
Raymond James Grabs $1.5M Team From LPL
A team that generated about $1.5 million in annual revenue left LPL Financial to join Raymond James Financial Services, the firm's independent broker-dealer.
Advisor Ed Lancaster and his sons, Mike and Dave, joined Raymond James in Cypress, Texas, a suburb of Houston.
The team managed more than $160 million in client assets, according to Raymond James.
To read more, click here
Advisor Ed Lancaster and his sons, Mike and Dave, joined Raymond James in Cypress, Texas, a suburb of Houston.
The team managed more than $160 million in client assets, according to Raymond James.
To read more, click here
Wirehouse Advisors With $501M in AUM Go Indy
Former UBS advisors with a combined $501 million in client assets have opened an independent practice with Wells Fargo Advisors Financial Network.
William Becker and Kurt Skvarla left the wirehouse to join forces as Becker Financial Group. The team is based in Mars, Pa., according to FiNet.
To read more,click here
Image: Bloomberg
William Becker and Kurt Skvarla left the wirehouse to join forces as Becker Financial Group. The team is based in Mars, Pa., according to FiNet.
To read more,
Image: Bloomberg
$125M Advisor Leaves Wells Fargo for Raymond James
A Wells Fargo advisor who oversaw $125 million in client assets has moved to Raymond James & Associates, the firm said.
Elliot Weissmark also had almost $1 million in production, according to Raymond James. He joins the firm's branch in Weston, Fla., and is joined by financial analyst Kiyoko Okamoto. Both have worked together for the past 15 years.
Weissmark started his financial services career with Citigroup in 1998 and moved to Wells Fargo in 2005, according to FINRA BrokerCheck records.
To read more, click here
Elliot Weissmark also had almost $1 million in production, according to Raymond James. He joins the firm's branch in Weston, Fla., and is joined by financial analyst Kiyoko Okamoto. Both have worked together for the past 15 years.
Weissmark started his financial services career with Citigroup in 1998 and moved to Wells Fargo in 2005, according to FINRA BrokerCheck records.
To read more, click here
HighTower Picks Up Morgan Stanley Team
HighTower announced the addition of a Morgan Stanley team that managed $450 million in client assets.
Former Morgan Stanley advisors Joseph Feinberg and Tamara Stein joined HighTower's independent platform. They operate from two offices in Los Angeles and Chicago.
Feinberg cited HighTower's resources as a motive for making the move.
Feinberg had been with Morgan since 1993, according to FINRA BrokerCheck records. Stein started her career at the wirehouse in 2001.
The team, operating as the Feinberg Stein Group, specializes in serving clients in the legal services industry, according to HighTower.
Image: Bloomberg.
Former Morgan Stanley advisors Joseph Feinberg and Tamara Stein joined HighTower's independent platform. They operate from two offices in Los Angeles and Chicago.
Feinberg cited HighTower's resources as a motive for making the move.
Feinberg had been with Morgan since 1993, according to FINRA BrokerCheck records. Stein started her career at the wirehouse in 2001.
The team, operating as the Feinberg Stein Group, specializes in serving clients in the legal services industry, according to HighTower.
Image: Bloomberg.
Former Wells Fargo Advisors Move to U.S. Trust
U.S. Trust announced several new hires recently to meet its growing demand for wealth management services, according to the firm.
U.S. Trust recruited two private client advisors to its San Diego office from Wells Fargo, the firm said. Sean T. Anthony, a former private bank relationship manager at Wells Fargo, and Ayse Ozkan, previously a senior private banker at the wirehouse, both made the move to U.S. Trust, the firm said. Anthony has prior experience with Banc of America Investment Services, a subsidiary of Merrill Lynch, Pierce, Fenner & Smith Incorporated, according to FINRA BrokerCheck records.
Former Wells Fargo Advisor William J. Meagher also joined U.S. Trust as a private client advisor in West Conshohocken, Pa., according to the firm. Before joining Wells Fargo, Meagher worked for UBS, Dean Witter Reynolds and Legg Mason, BrokerCheck says.
Image: Bloomberg.
U.S. Trust recruited two private client advisors to its San Diego office from Wells Fargo, the firm said. Sean T. Anthony, a former private bank relationship manager at Wells Fargo, and Ayse Ozkan, previously a senior private banker at the wirehouse, both made the move to U.S. Trust, the firm said. Anthony has prior experience with Banc of America Investment Services, a subsidiary of Merrill Lynch, Pierce, Fenner & Smith Incorporated, according to FINRA BrokerCheck records.
Former Wells Fargo Advisor William J. Meagher also joined U.S. Trust as a private client advisor in West Conshohocken, Pa., according to the firm. Before joining Wells Fargo, Meagher worked for UBS, Dean Witter Reynolds and Legg Mason, BrokerCheck says.
Image: Bloomberg.
