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May 04, 2016 at 10:28 AM
Wells Fargo Advisors (WFC) says it has been on a recruiting roll – attracting six advisors with about $690 million in client assets from other wirehouses.
John Pasacreta, Jordan Samelson and John Rotando joined Wells Fargo Advisors in Greenwich, Connecticut, from Morgan Stanley (MS), where they managed more than $245 million in client assets.
According to WFA, the registered reps have more than 35 years of combined experience. They joined the new firm on May 2 with registered client associates Nancy Meade and Sandra Kapfer and now report to regional brokerage manager Mike Freiheit.
In addition, William Browne and Marc Zupicich moved to Wells Fargo Advisors’ Liberty Plaza branch in New York from Morgan Stanley, where they managed more than $350 million in client assets, according to WFA. The two reps have more than 37 years of combined experience and joined May 2; they now report to Liberty Plaza branch manager Bartholomew Sweeney IV.
Furthermore, Robert Gorman came on board Wells Fargo Advisors in Corpus Christi, Texas, from Bank of America-Merrill Lynch (BAC), where he managed more than $100 million in client assets. Gorman has 23-plus years of experience. He joined WFA on April 29, reporting to branch manager Brian Leeton.
LPL Additions
LPL Financial (LPLA) says it recently welcomed Bridgewater, New Jersey-based Paradigm Wealth Management to its broker-dealer and hybrid registered investment advisory platform. Founded in 2010 by David Geigerich and David Provinsal, Paradigm includes six advisors and five professional support staffers.
Paradigm has grown organically as well as through the acquisition of other advisory practices. The firm’s management believes that current industry conditions, including an aging advisor workforce and movement within the industry resulting from new regulatory rules, can create more acquisition opportunities in both the commission-based and hybrid RIA arena. With a branch in Dublin, Pennsylvania, and another to open shortly in Fairfield, New Jersey, Paradigm managed roughly $305 million in commission- and fee-based assets, as of March 31.
“Paradigm has created a successful business in the field of retirement planning and we are excited their firm has made the decision to join LPL,” said Craig Kamis, senior vice president of institutional recruiting, in a statement.
FSC, Focus & Dynasty News
Ken Savino, based in East Hartford, Connecticut, has joined independent broker-dealer FSC Securities, with more than $112 million in total client assets. Savino has provided financial guidance to clients for over 32 years.
