Podcast Center
Video Center
Webcasts
Resource Center
Events
October 29, 2015 at 07:14 AM
UBS (UBS) brought on advisors with some $765 million in assets and $3.6 million in yearly fees & commissions from wirehouse rivals recently, while Raymond James (RJF) says it just added a former-Wells Fargo Profit Formula team (WFC) with $260 million in assets and about $2 million in annual production.
UBS has welcomed an advisor team and two solo advisors to its Dallas-based complex, three in Plano, Texas, and one in Tulsa, Oklahoma.
The team of Ryan McCuller and Bobby Senter formerly managed $265 million and has $1.2 million in yearly fees & commissions while they were previously at Merrill Lynch (BAC). Bryon Brook also joined from Merrill; his client AUM there was $200 million, and his production was about $1 million. Lance Martin moved to UBS from Wells Fargo, where his AUM totaled $300 million, and his annual fees & commissions were $1.4 million.
Meanwhile, Raymond James said Wednesday that it recruited financial advisors Tammy Sweet Halprinand Scott Finklerin Destin, Florida, to Raymond James & Associates, its employee channel, according to Patrick O’Connor, the Coastal regional director for RJA.
The duo now operates as the Halprin Finkler Investment Group of Raymond James and joins from Wells Fargo Advisors, where they were previously Wells Fargo Profit Formula advisors. There, they managed roughly $260 million in client assets and had $2 million in annual production.
(Profit Formula advisors at Wells Fargo control more of their own expenses in return for higher payouts; Raymond James has simila program called Advisor Select.)
“What drew us to Raymond James was the firm’s longstanding focus on clients and wealth management,” said Halprin, senior vice president of investments, in a statement. “Raymond James offers us a family culture with all of the capabilities of a very large firm.”
Halprin has been in the industry for more than 25 years. Prior to joining Raymond James, she worked at Wells Fargo Advisors and its predecessors, including Prudential Securities.
Finkler, senior vice president of investments, has been in the business for over 15 years. In 2000 he joined Prudential Securities, a predecessor of Wells Fargo Advisors.
