Wells Fargo Advisors (WFC) said it added a team from Morgan Stanley (MS) with combined assets of over $600 million, while Merrill Lynch (BAC) attracted an advisor from the same rival with about $240 million.
The news Wells reps are Michael Dechiario, who will be based in Radnor, Pennsylvania, Thomas Charmley and Thomas Soden of San Rafael, California, and Dean Vetsikas and Stacy Robinson of Philadelphia.
Meanwhile, Merrill Lynch Global Wealth Management hired Brad Weinman from Morgan Stanley in West Palm Beach. Last year, Weinman generated revenues of $1.8 million and advised clients on assets of $240 million. He has been in the business for 32 years.
“After meeting with other firms and conducting months of due diligence, Brad ultimately chose the combination of Bank of America and Merrill Lynch, noting that our goals-based wealth management process and deep platform distinguishes us from other firms,” Daniel Markow, market executive for Merrill in Palm Beach, in a statement.