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Technology > Investment Platforms > Turnkey Asset Management

Recruiting Roundup: UBS Grabs 3 Reps, Raymond James Adds 2 Teams

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UBS (UBS) recently recruited three new advisors with a total of nearly $700 million in assets under management and over $3.3 million in yearly fees & commissions. Meanwhile, Raymond James (RJF) just added two teams with combined assets of $400 million and close to $3 million in annual production. In addition, the $525-million Brown Wealth Management Group joined LPL Financial (LPLA).

UBS says it has hired three advisors, including Jon Hawk, formerly with Morgan Stanley (MS), where he had $450 million in assets and brought in $1 million annually in fees and commissions. Hawk, who has been in the business for 24 years, will be working in the Southpointe UBS office in Cannonsburg, Pennsylvania, and report to Lou Sforza, branch manager, and Mic Lundon, complex director.

Lechelle Moore came to the Nashville office of UBS from SunTrust Private Wealth Management, where she managed $130 million in client assets and had $1.23 million in yearly production. She’ll report to Jerry Johnson and came with her team the Moore Group.

Xi Qiao formerly worked for Bank of America-Merrill Lynch (BAC), where he had $115 million under management and brought in $1.1 million in fees and commissions; he will based in San Francisco and report to Mike Williams.

Raymond James has welcomed advisors Tammy Sweet Halprin and Scott Finkler, operating as the Halprin Finkler Investment Group of Raymond James, to Raymond James & Associates, its employee broker/dealer.

The duo, based in Destin, Florida, joined from Wells Fargo Advisors (WFC), where they managed roughly $260 million and had $2 million in annual production.

In addition, Raymond James recruited Erin Cockman and Angie Hall to its independent broker-dealer in Burlington, North Carolina, according to Scott Whitley, Mid-Atlantic regional director for RJFS. Cockman, Hall and Spoon do business as Pinnacle Wealth Partners.

Cockman, Hall and Spoon joined the firm from Wells Fargo Advisors, where they previously managed more than $150 million in client assets and had $950,000 in annual production.

“We are very happy Erin, Angie and Melissa chose to join Raymond James’ independent channel as they build and grow their practice,” said Whitley, in a statement. “Their decision to partner with Raymond James is a testament to the types of resources and the independent culture our firm offers advisors.”

“Since Pinnacle Wealth was founded, we had always felt like we had the heart and soul of an independent planning practice, and we hit a point where we were with a very different company than the one with which we had started with,” said Cockman, branch manager, in a press release.

“Looking at the wide range of products, platforms and advances Raymond James has made with technology, we decided a move to independence and a move to Raymond James would be a win for us, but more importantly our clients. What won us over was the trip to the home office, where we experienced Raymond James’ culture firsthand. Putting our clients first is the foundation of our business and it was clear they value that just as much as we do,” she explained.

In other news, financial advisory firm Brown Wealth Management has joined LPL Financial’s broker-dealer platform and affiliated with Stratos Wealth Partners, an independent advisor network on LPL’s hybrid RIA platform.

As of Sept.15, the firm, based in San Diego, managed $525 million in client assets.

Read the Oct. 29 Recruiting Roundup at ThinkAdvisor.


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