Big recruiting moves in wirehouses and IBDs.

LPL Financial (LPLA) said Thursday that a group of advisors with some $1.2 billion in assets under management is now affiliated with its broker-dealer platform. Meanwhile, Wells Fargo Advisors (WFC) announced Wednesday that it had recruited seven advisors from rival wirehouses with nearly $1.4 billion in client assets.

StreamSong Advisors, based in Grand Rapids, Michigan, includes two financial advisors, a client-portfolio manager and a specialist in tax and estate planning issues. The latest LPL affiliate focuses on investors with $500,000 to $2 million in investable assets.

“We are delighted that StreamSong has recognized LPL’s extensive capabilities to support independent financial advisors who serve their targeted clientele, and we are glad to assist them in launching their new practice,” said Steve Pirigyi, LPL Financial’s executive vice president of business development, in a statement.

According to Thomas Braun, founder of StreamSong, “From every perspective, LPL was the clear choice: We were impressed by the quality of its technology, its investment research and the particular high-net-worth capabilities that LPL has developed with its Fortigent division. All together, these offerings provide the potential for a superior client experience.”

Wells Fargo Advisors shared details on its latest recruits – five from UBS Financial Services (UBS) and two from Morgan Stanley (MS) — on Wednesday.

Jon Miller and Doug Kunzman came on board in Lincoln, Nebraska, on Sept. 4 from UBS, where they managed more than $151 million in combined client assets.

Advisors William “Bill” Boatwright and Craig Diamond of the Boatwright Diamond Wealth Management Group moved to Wells Fargo in Woodland Hills, California (outside Los Angeles), from UBS on Sept. 10. Their client assets total $259 million.

The other ex-UBS recruited rep is Lee Dubinsky, who manages about $140 million in client assets. He moved to Wells Fargo on Sept. 12 and now reports to Long Island market manager Christopher Davis.

Dubinsky formerly worked in the Melville, N.Y., office of UBS, which is the center of a sexual harassment lawsuit.

Other advisors that moved in the area include William Peragine and John Biondo, who left Morgan Stanley and also now report to Davis. This team has managed more than $830 million in combined client assets.

Back on the independent side, Washington Wealth Management of San Diego said Tuesday that advisors Craig Martucci and Todd Adams joined its operations from RBC Wealth Management. The two advisors come to the independent hybrid RIA, which is owned by the broker-dealer National Financial Partners (NFP), with some $220 million in AUM in Salt Lake City.

“When we enter a new market, we are keenly focused on making sure we bring on the best advisors available in that market,” said Washington Wealth CEO Rob Bartenstein, in a statement. “Craig and Todd are prime examples of this philosophy and will fit very well with our existing advisors nationally as we continue to build a core of very talented, seasoned professionals.”

Washington Wealth has over $1 billion in total assets under advisement.

“Our move away from the wirehouse world allows us to provide our clients the advice they need – without being captive to any potentially competing agendas – along with the exceptional service they expect,” Martucci said in the statement. “There was no question that WWM was the ideal partner to help us make this move.”

Other Recruits

Graystone Consulting, part of Morgan Stanley, said Wednesday that it hired the Brice Group – a team of seven investment professionals – to serve institutional and individual clients in the Midwest.

Based in Birmingham, Mich., the team includes institutional consulting directors Brian and Tim Brice and was formerly part of Bank of America Merrill Lynch Global Institutional Consulting (BAC). It has been in business since 1967 and oversees more than $4.5 billion in assets for clients that include corporations, endowments and foundations, health care organizations, insurance entities, family offices and high net worth individuals.

 “We are pleased to welcome this successful and very experienced team to Graystone Consulting,” said Patrick O’Donovan, Southeast Michigan complex manager, in a press release. “Their clients will continue to benefit not only from the team’s high level of skills and experience but also through the expanded and sophisticated institutional capabilities available through our firm.”

Check out 3 Ways to Attract and Retain Talented Advisors on ThinkAdvisor.