Bank of America-Merrill Lynch (BAC) says it recently recruited a team from Janey Montgomery Scott to its wealth operations: Advisor Jon Stevens and associate Phil Stevens now work at its office in Scranton, Pennsylvania.
The team has about $100 million in client assets and about $650,000 in yearly fees and commissions.
“We strive to hire experienced financial advisors like Jon who design personalized wealth management strategies and take a holistic approach when providing advice and guidance for individuals, families and businesses,” said Christopher Reber, complex director of the Merrill Lynch Eastern Pennsylvania complex, in a statement.
Jon Stevens cut his teeth in the industry at Legg Mason starting in 2003, before moving on to Citigroup and later Janney.
“We are very excited to be joining the Merrill Lynch family in Scranton,” he explained in a statement. “Using the combined resources of Merrill Lynch and Bank of America, we will continue to offer our clients the best service.”
Meanwhile, Ameriprise Financial (AMP) says it has added three advisors with roughly $260 million in client assets.
Robert Shanks, with nearly $130 million in assets, joined the firm’s independent channel from Edward Jones. He is based in the Beaumont, Texas, area and has been in the industry for 23 years.
John Rojas, who has $70 million in assets under management, is now part of Ameriprise’s employee channel. He moved to the firm Wells Fargo Advisors, is located in Palm Beach, Florida, and has 18 years of industry experience.
Marc Levy moved to Ameriprise’s independent channel in New York with some $60 million in assets. He was with MetLife Securities for 20 years.
— Check out UBS Rolls Out 5-Year Succession Program on ThinkAdvisor.