Raymond James (RJF) has grabbed a team of four advisors from UBS; Bank of America Merrill Lynch (BAC) recruited a duo from Morgan Stanley (MS) and an advisor from Wells Fargo (WFC) in the past week; U.S. Trust added four advisors; and Halbert Hargrove brougt on two reps.
In addition, Gough Financial Group moved to Cetera Advisor Networks (RCAP), and David and Jonathan Steele launched One Wealth Advisors.
Raymond James Nabs $550M Team From UBS
Continuing the firm’s expansion in the northeastern U.S., Raymond James has welcomed a team of four veteran financial advisors and two support staffers to a new branch of Raymond James & Associates (RJA) – the firm’s traditional employee broker-dealer – in Worcester, Massachusetts.
The team, which operates as Elm Wealth Management, comes to Raymond James from UBS, where they managed more than $550 million in client assets and had approximately $3 million in annual production. They serve retirees, health care professionals, business owners and corporate executives.
The team includes senior vice president of investments and managing director Stephen J. Erickson, a certified financial planner and chartered retirement planning counselor; senior VP of investments and managing director Michael Martin; VP of investments Scott Louder; associate VP of investments Christopher Lussier, CFP; and registered practice coordinators Diana Correa and Nancy Jones.
“We are delighted to have attracted such a respected group as Elm Wealth Management. With more than 80 years of combined industry experience, Steve, Mike, Scott and Chris are a well-established team with a proven record of providing exceptional client service,” said Tash Elwyn, president of RJA’s Private Client Group.
Merrill Lynch Adds Morgan Stanley Team, Wells Fargo Advisor
Brad Nettune and Trey Whipple recently brought their multimillion-dollar team to the Merrill Lynch advisory office in Summit, New Jersey, and will report to Jim Hughes, market executive and managing director, according to a statement from Merrill Lynch. Coming with them are Tara Jakubik, investment associate; Jason Siefert, registered client associate; and Anthony Day, client associate.
In addition, Jin Park left Wells Fargo Advisors to join up with Merrill in Henderson, Nevada, where he’ll report to Paul Biafore, resident director, and Michael Casey, market executive. Park has more than $152 million in assets under management.
U.S. Trust Welcomes Four Advisors