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May 01, 2013 at 12:54 PM
Wells Fargo (WFC) and Morgan Stanley (MS) have recently attracted a total of seven advisors from Merrill Lynch with about $3.8 million in yearly fees & commissions and close to $750 million in client assets under management.
Six of the seven reps leaving Bankof America-Merrill (BAC) joined the independent-advisor channel of Wells, known as the Financial Network (FiNet), in Seattle with some $550 million in assets.
Advisor Jim Butler Sr., and his two sons, Jim Butler Jr. and Neil Butler, have about $1.3 million in production and more than $356 million in assets under management. They joined FiNet about a month ago, Wells said on Thursday.
Advisors Teresa Brokaw, Don O’Neal and Trent O’Neal made the jump to Wells’ independent channel in mid-April. They have roughly $1.4 million in production and manage $193 million in assets.
“We experienced one of our strongest recruiting years ever last year and additions like those of Butler Wealth Management and the O’Neal & Brokaw Private Retirement Group continue to show that quality advisors see Wells Fargo Advisors Financial Network as a home for quality financial advisors whose priorities are helping their clients to succeed financially,” said FiNet President Kent Christian, in a statement.
Morgan Stanley Recruits
Morgan Stanley said Thursday it recuited Thomas (TJ) McCann from Merrill. McCann joined office of Morgan Stanley in La Jolla, Calif., and reports to San Diego complex manager Mark Kremers.
