Barclays Wealth said Thursday that it hired eight advisors in Los Angeles and Chicago from Morgan Stanley (MS), Wells Fargo (WFC) and Goldman Sachs (GS) with a combined production level of $38 million for that past 12 months and some $4.5 billion in total assets. That represents an average level of yearly fees and commissions of $4.75 million per recruited FA and $563 million in average assets under management.
“We are pleased to welcome these seasoned advisors to Barclays Wealth,” said Mitch Cox (left), head of Barclays Wealth in the Americas, in a press release. “Our unique combination of custom wealth management, rich intellectual capital and direct access to the global resources of Barclays continues to attract top-performing advisors who seek a world-class platform with the high touch of a boutique to serve their clients.”
The five new Barclays Wealth FAs in Los Angeles are: Lisa Amster, formerly of Goldman Sachs; Audra Lalley, previsouly a vice president with Morgan Stanley Private Wealth Management; Mark T. Lindee, joining from Wells Fargo; and Kevin Monaco and David Garfin, formerly with Credit Suisse Private Banking.
All five advisors, or investment representatives (as they are referred to by Barclays Wealth), report to regional manager Brian Sears.