Advisors on the Move: $3B Mega Team Goes Indy
August 3, 2015 4:39 PM
Advisors on the Move: $3B Mega Team Goes Indy
Barclays advisors have been making waves recently, leaving the firm ahead of a pending acquisition by Stifel. One group of six advisors who had $3 billion in AUM went independent with Dynasty. Merrill Lynch, meanwhile, recruited a team that generated $6 million in annual revenues from Barclays. The wirehouse also picked up a UBS advisor who managed $1.3 billion.
To see these and all the latest moves and hires, click through our slideshow.
To see these and all the latest moves and hires, click through our slideshow.
$3B Team Goes Indy
A group with $3 billion in assets under management parted ways with Barclays to start a new firm. The team of six advisors -- Jack Petersen, James Cantelupe, Peter Lee, Tom Palecek, David Romhilt and John Scarborough -- launched their independent advisory firm Summit Trail Advisors with Dynasty Financial Partners. Summit's offices will be in New York, Chicago and San Francisco.
Petersen joined Barclays in 2008. In his 22-year career, he made major stops at Morgan Stanley and Lehman Brothers as well, according to his LinkedIn profile.
The six partners worked together for over a decade and collectively bring experience from Barclays Wealth, Lehman Brothers, Goldman Sachs, AllianceBernstein, Morgan Stanley and Cambridge Associates.
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Petersen joined Barclays in 2008. In his 22-year career, he made major stops at Morgan Stanley and Lehman Brothers as well, according to his LinkedIn profile.
The six partners worked together for over a decade and collectively bring experience from Barclays Wealth, Lehman Brothers, Goldman Sachs, AllianceBernstein, Morgan Stanley and Cambridge Associates.
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$1.3B Advisor Jumps to Merrill
Merrill Lynch hired a private wealth advisor managing more than $1.3 billion in client assets for its elite Private Banking & Investment Group, according to the firm.
Advisor Will Leven left UBS to join Merrill's Houston office, where he will report to Bob Johnson, regional managing director. In a statement, Leven said he made the move in part because of the firm's platform and technology.
Leven had been with UBS since 2003, according to BrokerCheck records. He started his career in 1992 with Goldman Sachs.
Also making the move are analysts Alora Anderson and Anthony Hoff, as well as client associate Ashlee Kegler.
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Advisor Will Leven left UBS to join Merrill's Houston office, where he will report to Bob Johnson, regional managing director. In a statement, Leven said he made the move in part because of the firm's platform and technology.
Leven had been with UBS since 2003, according to BrokerCheck records. He started his career in 1992 with Goldman Sachs.
Also making the move are analysts Alora Anderson and Anthony Hoff, as well as client associate Ashlee Kegler.
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Merrill Grabs $6M Producers
Barclays advisors who generated $6 million in annual production have switched to Merrill Lynch, according to the wirehouse, in yet another round of defections before the British bank folds its wealth management operations into Stifel's.
A Merrill spokeswoman declined to comment on the team's AUM. The new recruits, Peter Kong and John Shaw report to Tracy Murphy, a regional managing director in Merrill's Private Banking and Investment Group for the Pacific Northwest region, the firm said.
We are delighted to be able to bring on teams of this caliber and look forward to providing their clients with an excellent client experience, Murphy said.
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A Merrill spokeswoman declined to comment on the team's AUM. The new recruits, Peter Kong and John Shaw report to Tracy Murphy, a regional managing director in Merrill's Private Banking and Investment Group for the Pacific Northwest region, the firm said.
We are delighted to be able to bring on teams of this caliber and look forward to providing their clients with an excellent client experience, Murphy said.
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$800M Team Moves to Merrill
Merrill Lynch recruited two advisors who oversaw $800 million in client assets at Barclays, the firm said.
Jim Ertmann and Ben Foster generated $5.8 million in production during a seven year stint at Barclays, according to Merrill. They now are part of Merrill's Private Banking and Investment group in Chicago, reporting to regional managing director Brett Thelander,
Ertmann and Foster focus on ultrahigh-net-worth clients in the Midwest, doing business as the Ertmann Foster Group, Merrill said.
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Jim Ertmann and Ben Foster generated $5.8 million in production during a seven year stint at Barclays, according to Merrill. They now are part of Merrill's Private Banking and Investment group in Chicago, reporting to regional managing director Brett Thelander,
Ertmann and Foster focus on ultrahigh-net-worth clients in the Midwest, doing business as the Ertmann Foster Group, Merrill said.
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Merrill Nabs $2M Producer
Merrill has grabbed an advisor generating $2 million in annual revenue from UBS.
Advisor David Munoz, 41, has joined Merrills White Plains, N.Y., branch, where he will report to managing director Matt Grossman, the firm reported. Munoz joined UBS in 2008, where he managed affluent and high-net-worth clients.
The former UBS advisor began his career in 1997 with Sanford C. Bernstein. Over the next 17 years, he also worked with Morgan Stanley for a five year stint, according to his FINRAs BrokerCheck records.
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Advisor David Munoz, 41, has joined Merrills White Plains, N.Y., branch, where he will report to managing director Matt Grossman, the firm reported. Munoz joined UBS in 2008, where he managed affluent and high-net-worth clients.
The former UBS advisor began his career in 1997 with Sanford C. Bernstein. Over the next 17 years, he also worked with Morgan Stanley for a five year stint, according to his FINRAs BrokerCheck records.
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$2.7M Producers Join UBS
UBS says it hired a team managing $400 million in client assets from Morgan Stanley.
Advisors Frank Coiro, Larry Glickstein and Brian Frey, earned $2.7 million in annual revenues while at Morgan. The trio operates as the Coiro-Glickstein Group. They will join UBSs New York office and report to managing director Mara Glassel.
Both Coiro and Glickstein joined Morgan in 2009 from Citigroup, while Frey came in a year later from Northwestern Mutual Investment, according to BrokerCheck records.
Coiro started his career in 1991 with D.H. Blair, while Glickstein started out three years later with Lehman Brothers. Frey started in 2008 with Northwestern Mutual.
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Advisors Frank Coiro, Larry Glickstein and Brian Frey, earned $2.7 million in annual revenues while at Morgan. The trio operates as the Coiro-Glickstein Group. They will join UBSs New York office and report to managing director Mara Glassel.
Both Coiro and Glickstein joined Morgan in 2009 from Citigroup, while Frey came in a year later from Northwestern Mutual Investment, according to BrokerCheck records.
Coiro started his career in 1991 with D.H. Blair, while Glickstein started out three years later with Lehman Brothers. Frey started in 2008 with Northwestern Mutual.
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RBC Reunites With $1.6M Producer
An advisor, who generated $1.6 million in production while at J.P. Morgan has left to rejoin RBC after six years, according to the firm.
Bob Cordiak returned to RBC's Dallas office, where he had worked before moving to J.P. Morgan in 2009. While at the J.P. Morgan, Cordiak oversaw $160 million in client assets, RBC said. He is accompanied by Emily Selin, a registered client associate.
Cordiak started his career in 1986 with Paine Webber, and initially joined RBC in 1998, according to FINRAs BrokerCheck records.
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Bob Cordiak returned to RBC's Dallas office, where he had worked before moving to J.P. Morgan in 2009. While at the J.P. Morgan, Cordiak oversaw $160 million in client assets, RBC said. He is accompanied by Emily Selin, a registered client associate.
Cordiak started his career in 1986 with Paine Webber, and initially joined RBC in 1998, according to FINRAs BrokerCheck records.
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Million-Dollar Wirehouse Advisor Goes Indy
A Wells Fargo advisor with $135 million in client assets joined the independent channel at Raymond James, according to one of the firm's managers.
Jon Sisson, a $1 million producer while working for the Wells Fargo Advisors bank channel, joins the Avenue Wealth Management Group of Watkinsville, Ga., Southeast Regional Director Jodi Perry says. He is joined by senior administrative assistant Lee Ann Jordan.
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Jon Sisson, a $1 million producer while working for the Wells Fargo Advisors bank channel, joins the Avenue Wealth Management Group of Watkinsville, Ga., Southeast Regional Director Jodi Perry says. He is joined by senior administrative assistant Lee Ann Jordan.
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Indy Firm Recruits Merrill Duo With $240M AUM
A pair of Merrill Lynch advisors who had $240 million in assets under management joined RIA Snowden Lane Partners.
The two advisors, Alex Bryer and Keith Mayo, will remain a team, working together out of Snowden Lanes new Bethesda, Md., office. With these two recent hires, Snowden Lane has brought their number of advisors to 22 in their six offices nationwide.
Bryer began his career with Merrill and has worked there since 1997, while Mayo started in the industry in 1983 with E. F. Huffington. After making a few moves he landed at Merrill in 1994, where he paired up with Bryer.
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The two advisors, Alex Bryer and Keith Mayo, will remain a team, working together out of Snowden Lanes new Bethesda, Md., office. With these two recent hires, Snowden Lane has brought their number of advisors to 22 in their six offices nationwide.
Bryer began his career with Merrill and has worked there since 1997, while Mayo started in the industry in 1983 with E. F. Huffington. After making a few moves he landed at Merrill in 1994, where he paired up with Bryer.
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Merrill Grabs $4M Barclays Team
Merrill Lynch lured away a pair of $4 million producers from Barclays, adding to the defections that began after Stifel announced its intentions to buy the bank-owned wealth management unit.
Advisors Jason Hutton and Steven Gottlieb managed $520 million in client assets while at Barclays, according to the firm. They will report to Managing Director Joseph Doonan at Merrills Park Avenue office in New York.
The duo started their careers at Lehman Brothers. Hutton joined in 1997, while Gottlieb came in nine years later. Since then, their careers have run parallel as they both made stops at UBS and then moved to Barclays. Hutton joined Barclays in 2009, and Gottlieb followed a year after.
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Advisors Jason Hutton and Steven Gottlieb managed $520 million in client assets while at Barclays, according to the firm. They will report to Managing Director Joseph Doonan at Merrills Park Avenue office in New York.
The duo started their careers at Lehman Brothers. Hutton joined in 1997, while Gottlieb came in nine years later. Since then, their careers have run parallel as they both made stops at UBS and then moved to Barclays. Hutton joined Barclays in 2009, and Gottlieb followed a year after.
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Raymond James Recruits Wells Fargo Trio
Three Wells Fargo advisors managing $275 million in client assets jumped to Raymond James, according to the firm.
Advisor Bruce H. Daigle, Diane K. Fisher, and Walter F. Wydo Jr. joined the employee channel at firms branch in West Hartford, Conn. The trio generated approximately $1.5 million in annual revenue, while at Wells Fargo. They operate as FDW group.
Their team also includes client associates Lindsay F. Boland and Judith Milanese.
Daigle, Fisher and Wydo had been with Wells Fargos since its merger A. G. Edwards, according to FINRA BrokerCheck records.
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Advisor Bruce H. Daigle, Diane K. Fisher, and Walter F. Wydo Jr. joined the employee channel at firms branch in West Hartford, Conn. The trio generated approximately $1.5 million in annual revenue, while at Wells Fargo. They operate as FDW group.
Their team also includes client associates Lindsay F. Boland and Judith Milanese.
Daigle, Fisher and Wydo had been with Wells Fargos since its merger A. G. Edwards, according to FINRA BrokerCheck records.
