Wirehouse advisors

Advisor Chuck Cooper says he hopes the new practice will be a home for breakaway wirehouse and IBD-affiliated advisors.

This is the 14th new location the regional BD has opened so far this year.

Each of the three advisors has more than 20 years of experience in the business.

The bank has been courting wirehouse talent, but took a hit when a top team quit in June.

The new recruits come from Merrill Lynch and Stifel, with $165 million in total client assets.

The new recruits bolted from Morgan Stanley after nearly 20 years with the wirehouse and its predecessor firms.

The firm's most recent lawsuit over alleged non-solicitation violations centered on an advisor's thank-you cards to clients.

One team wanted more flexibility and time to manage their clients’ financial needs.

The new recruits came at the expense of wirehouse rivals Merrill Lynch and Wells Fargo.

The new recruits managed over $300 million in client assets.

Michelle Rudd opened a new office for Summit Trail Advisors, a $5 billion independent firm.

The declining headcount comes even as the firm pulls in several big hires.

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.

James Gorman dismissed any speculation after the unit posted record revenue and pretax profit in the second quarter.

The beleaguered bank has suffered from attrition since a fake accounts scandal rocked the firm in 2016.

Even as the wirehouse has cut back on recruitment, the hire of two new industry veterans show it’s still looking for top teams.

The wirehouse’s latest litigation suggests other everyday activities of defectors could come under scrutiny.

Most clients don’t give a hoot about fiduciary and best interest standards.

An advisor of 36 years, Jay Mastilak moved to Stifel from Wells Fargo.