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November 07, 2012 at 08:49 AM
Morgan Stanley (MS) said it added one advisor from JPMorgan Chase (JPM) on Tuesday, while Barclays shared a list of its latest 18 new reps on Monday who came from a variety of wirehouse and other firms.
Meanwhile, LPL Financial-affiliated Legacy Wealth Planning recruited a team led by former Wells Fargo (WFC) advisor Mark Elston, which manages about $185 million in assets.
Bryan Schon moved to Morgan Stanley Wealth Management in Bloomfield Hills, Mich., from Chase Investment Services. He now reports to branch manager William R. Eastin. The advisor has produced close to $1.5 million in yearly fees and commissions and has managed about $205 million.
Barclays’ Boost
Barclays 18 new advisors, which it recruited over the past few weeks, come from Merrill Lynch (BAC), Morgan Stanley, UBS (UBS), Credit Suisse (CS), JPMorgan Chase and SunTrust (STI). They will now work in eight offices across the country.
The new advisors, who are referred to as investment representatives by Barclays, have a total of nearly $40 million in yearly production and $9.4 billion in assets under management. Thus, the reps have $2.2 million in average yearly production and $522 million in average assets under management.
“We are pleased to welcome these talented advisors to Barclays,” said Mitch Cox (left), head of Wealth Management-Americas for Barclays, in a statement. “These hires underscore our commitment to attracting top-performing professionals who seek Barclays’ unique, in-depth approach, of guiding clients to customized solutions that extend far beyond their investment portfolio.”
Barclays has some 250 advisors in the United States, and $287 billion in client assets worldwide in its Wealth and Investment Management division.
In New York, Tom Dexter joined Barclays from Bank of America-Merrill Lynch. Brett Fleckman came on board in New York from J.P. Morgan Private Bank.
Mark O’Shea moved to Barclays in New York from Morgan Stanley, where he had been part of the Moldaver 80 Group. Edward Moldaver, a certified portfolio manager, also joined Barclays from Morgan Stanley.
All four advisors now report to Mark Stevenson, managing director and regional manager for New York. Other Barclays Recruits
In Los Angeles, Jonathan Bates moved to Barclays from J.P. Morgan, where he specialized in municipal bonds. He reports to Brian Sears, managing director and regional manager in Los Angeles.
