On Tuesday, Morgan Stanley said the Stephans Van Liew and Oiler Group, an eight-member team focused on institutional consulting and private wealth-management, joined its Graystone Consulting office in Chicago from Bank of America-Merrill Lynch (BAC) Private Banking and Investments Group.
According to Morgan Stanley, they were senior members of the Global Institutional Consulting Group, overseeing $6.5 billion in institutional and private client assets.
“This team is among the best in the industry at what they do, and will be an important addition as we expand Graystone in the Midwest and across the nation,” said Marc Brookman, managing director and head of Graystone Consulting, in a statement.
The group’s three senior partners — Managing Directors Linda Stephans, Kristina Van Liew, and Erik Oiler — have a total of 80 years of industry experience. Both Stephens and Van Liew worked for the Northern Trust Co., where they each were employed in senior roles for 19 years.
“The Stephans Van Liew and Oiler Group serves an exceptional roster of nonprofits, endowments, foundations, private and public corporations, ultra-high net worth individuals and family offices, and is highly regarded by these clients. We are pleased to welcome them to Graystone Consulting and Morgan Stanley,” said Kevin Forman, Chicago complex manager, in a press release.
Raymond James, HighTower Recruiting
Raymond James announced Tuesday that Raymond E. Ifert and Lorraine M. Faedo, who recently worked for a branch of BNY Mellon in Tampa, have formed an independent RIA and affiliated with its Investment Advisors Division. At BNY Mellon, Ifert managed the office and its $850 million in client assets.
“The three things that attracted us to affiliate with Raymond James are the firm’s name recognition, its financial strength and safety and its capabilities,” said Ifert, in a press release. “After looking into several custodians and concentrating on those three attributes, we found Raymond James to be the best fit.”
Ifert has worked in financial services for more than 32 years, including time at NationsBank and AmSouth Bank. Faedo previously was with Bank of America as an assistant vice president in the wealth management group.