The movement of advisors is picking up as spring approaches, with teams moving in and out of the wirehouse firms, as well as over to smaller broker-dealers.
For instance, Morgan Stanley (MS) said last week that it recently recruited a team from Merrill Lynch with about $1.3 million in yearly fees and commissions.
Nikesh Kadakia, Joseph Pastore and Kirk Snyder joined Morgan Stanley in El Segundo, Calif., from Bank of America-Merrill. The team now reports to branch manager David Fahey.
The Lipe Group in Charlotte, N.C., for instance, moved to Baird with roughly $250 million in assets; it includes advisors Joseph and John Lipe.
In Lake Norman, N.C., Kevin Phillips moved to Baird with about $105 million in assets from Wells Fargo.
And the Glenn Group of Portland, Maine, came to Baird from Wells with about $145 million in assets. The team includes advisors Robert Glenn and Chad Schumann.