Podcast Center
Video Center
Webcasts
Resource Center
Events
February 21, 2014 at 07:43 AM
UBS (UBS) says the Grueninger Group moved to its office on Rodeo Drive in Beverly Hills, Calif., from Bank of America-Merrill Lynch (BAC). The group, which has nearly $2.7 million in yearly fees & commissions, includes Mark Grueninger and Ben Sauer.
According to FINRA, Grueninger started his career at UBS in late 2001. He was with Bank of America and Merrill Lynch from 2003 to early 2014.
Meanwhile, Raymond James (RJF) said it recruited a team with about $2 million in production from Morgan Stanley in Buffalo, N.Y.
Financial advisors Peter J. Walsh and Lisa J. Walsh have opened the first full-service branch of Raymond James & Associates in Buffalo, according to Bill Roney, director of the Great Lakes division for the firm’s employee channel.
“Peter and Lisa are a wonderful addition,” said Roney, in a press release. “They are an outstanding, high-quality team with more than 45 combined years of experience and, most importantly, high integrity and a commitment to and focus on their clients. We couldn’t be more excited to have the entire team join the Raymond James family, and we are proud to have them represent us in the Buffalo market.”
Previously with Morgan Stanley, the Walshes, who are married, managed $255 million in client assets and had annual fees and commissions of $2 million.
“We were looking for a firm with the same culture and values that we believed in,” explained Peter Walsh, in a statement. “We wanted a firm that looked after its advisors and one that has all the technology and resources we need to serve our clients. We looked at many, many firms, but the only one that fit, that demonstrated a sincere client-first philosophy and an advisor-centric culture was Raymond James.”
Peter began his financial services career in 1984 as a specialist clerk on the floor of the New York Stock Exchange. He then worked at Morgan Stanley for 26 years. Lisa Walsh was with Morgan Stanley for 19 years. Earlier in her career, she worked as an account executive with ADP and a claims representative with CIGNA Insurance.
“Raymond James is one of America’s largest independent financial firms,” she said in a statement, “and a company grounded in core values such as conservatism, independence and integrity. Its unique culture gives us the complete freedom to offer objective, unbiased advice, so we can tailor our clients’ plans based solely on their financial well-being. And the resources and support of more than 3,500 home office associates will help us better serve all our clients.”
Other Movement
Sapient Private Wealth Management, a Eugene, Ore.-based RIA that is affiliated with Focus Financial, said this week that it added former RBC financial advisor Ross Anderle, CFP, who previously managed nearly $100 million in client assets. Sapient’s total client assets are now about $700 million.
“To expand our presence in the Pacific Northwest, we are constantly on the lookout for exceptional talent that will help us serve the changing needs of our growing clientele,” said Greg Erwin, co-founder and managing partner at Sapient. “Ross is an excellent example of the caliber of talent that will enhance our offering and build upon our firm’s unwavering client-centric culture.”
The Sapient team was previously with Morgan Stanley for more than 30 years. It launched its own wealth management firm with the help of Focus Connections, a program that helps wirehouse teams successfully transition their business.
