Close Close
Popular Financial Topics Discover relevant content from across the suite of ALM legal publications From the Industry More content from ThinkAdvisor and select sponsors Investment Advisor Issue Gallery Read digital editions of Investment Advisor Magazine Tax Facts Get clear, current, and reliable answers to pressing tax questions
Luminaries Awards

Technology > Investment Platforms > Turnkey Asset Management

Recruiting Roundup: Merrill Lynch Picks Up $1.7B Reps From Rival

Your article was successfully shared with the contacts you provided.

Bank of America Merrill Lynch (BAC) says it welcomed two advisor teams recently, both from Morgan Stanley (MS), with a combined $1.7 billion in client assets.

Andrew Zimmerman rejoined Merrill in the Boston Financial Center office, along with his team of Edward Nabhan, his son Alexander Nabhan, Megan Cooney and James McIntyre. The group manages about $1.2 billion in total client assets.

Zimmerman was a Merrill Lynch financial advisor from 1990 to 2008, before moving to Morgan Stanley, where he was a managing director, senior portfolio manager, financial advisor and family-wealth director.

In Bloomington, Minnesota, the Pohlen, Terris and Kasper Group is now part of Merrill Lynch. It has managed some $555 million in client assets. The group includes Larry Pohlen, David Pollen, Marc Terris and Michael Kasper.

Meanwhile, Raymond James & Associates (RJF) says Alan Lazzara has joined the traditional employee broker-dealer in Chicago. Lazzara was formerly with William Blair & Co., where he had been a partner and previously managed almost $280 million in client assets; also, he has had annual fees and commissions of over $1.7 million.

“I was attracted to Raymond James for many reasons but chief among them was the firm’s conservative financial management — that’s important to my clients — along with its very broad research capabilities and state-of-the-art technology,” Lazzara said in a statement.

Broker-dealer and RIA Woodbury Financial, part of the Advisor Group of independent broker-dealers, says it recently recruited three advisors with a total of more than $236 million in client assets.

Mark Mappa, president and wealth manager at Buffalo Grove, Illinois-based Mappa Wealth Management, joins Woodbury with more than $100 million in client assets; Paul Hutton, president of Hutton Financial Advisors of Fort Worth, Texas, also moved to Woodbury with more than $73 million in client assets; and Jill Slayton, president of Rockwall, Texas-based Slayton Wealth Management, came on board with more than $63 million in client assets.

Other News

Dynasty Financial Partners and broker-dealer Global Investor Services have formed a strategic alliance to provide Dynasty investment capabilities to GIS advisors.

The partnership gives GIS advisors access to Dynasty’s turnkey asset management program, along with the firm’s outsourced chief investment officer (OCIO) platform and Dynasty Select, Dynasty’s list of long-only, separately managed asset managers and alternative hedge fund and private equity managers.

GIS manages more than $2.5 billion in client assets.

Meanwhile, Loveland, Colorado-based Keystone Financial Services, says it has aligned with Carson Institutional Alliance, a partnership of some 30 advisory firms, led by Ron Carson. Keystone plans to continue to use LPL Financial as custodian.

— Read the May 18 Recruiting Roundup on ThinkAdvisor.


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.