Wirehouse advisors

Collectively, the brokers generated $167 million in annual production and oversaw $37 billion in combined client assets.

These elite producers in some cases operate far from Wall Street, even as they work for well-known wealth managers such as UBS, Merrill Lynch and Ameriprise.

The ex-Morgan Stanley and Merrill Lynch advisors join the wealth manager, which has been aggressively recruiting in recent months.

The firm’s aggressive hiring streak continues with the onboarding of several wirehouse advisors.

The group leader, advisor Lars Olson, had been with the wirehouse since 1994.

Firms will up their tech investments and continue rewards and punishments designed to shape advisor behavior, says recruiter Mark Elzweig.

The IBD completed a stellar recruiting year by adding a team led by a 30-year veteran advisor.

The UHNW unit signed advisors managing a combined $3.7 billion this year and committed to maintaining a physical presence in its New York headquarters.

Like its largest rivals, the wirehouse kept grids at par after a tumultuous 2020.

The firm’s four new additions came from two wirehouses.