Recruiting in '17 is on a tear, despite regulatory reforms.

Merrill Lynch said a team with four advisors and about $628 million of client assets has joined it from Morgan Stanley in Paramus, New Jersey—Thomas Reichert, Paul Lotito, Eric Aiello and Lindsay Reichert, who formed the RLA Group.

“The RLA Group shares Merrill Lynch’s value of helping clients achieve their goals through a customized approach based on a deep understanding of their specific priorities,” said Jessica Miller, market executive, in a statement.

Thomas Reichert has more than 39 years of experience in the business, while Paul Lotito, CFP, has 26-plus years, for instance.

In addition, Merrill Lynch announced recently that advisor Cathy Reed became a part of its office in Austin, Texas office. She moved to Merrill from JP Morgan, where she was responsible for $113 million assets.

Reed worked in the industry for 21 years.

In May U.S. Trust, which like Merrill is owned by Bank of America, said it added private client managers and wealth strategies advisors from Wells Fargo, JPMorgan Chase and a large number of other financial institutions. They came on board in California, Connecticut, Florida, Illinois, Michigan, New York, North Carolina, Oregon, Pennsylvania, Texas and Washington, D.C.

ACG Wealth

A hybrid-RIA, which has $1.8 billion in assets under management and offices, says Greg Fink is now its president and CEO. Fink previously served as a vice president of Fidelity Investments’ Clearing & Custody Services business unit, where he focused in serving RIA firms in the Southeast.

Over the last five years, ACG Wealth says it has acquired 14 RIAs from across the country, and they are now using its hybrid platform.

Since the firm’s three founding partners, who launched the firm in 2002 with about $80 million in assets, will remain with ACG Wealth. Fink is expected to expand the firm’s private wealth and investment management platforms, according to a press release. 

“Greg brings more than 20 years of experience in the business and management of RIAs,” said Jody Young, one of the firm’s founding partner, ACG Wealth, in a statement.

“He also knows investing and trading, having cut his teeth at the large institutional firms including Fidelity, Northern Trust and Bank of America. He is tasked with continuing our momentum and taking ACG Wealth to the next level,” she said.

Cambridge News

The Cambridge Investment Group says Barry Waugh has been promoted to vice president of Project Management. In this role, will provide guidance to Cambridge’s corporate project management strategy.

Waugh joined Cambridge in 2011 and has nearly 25 years of financial-services experience.

According to the firm, he was “instrumental in the launch of Cambridge Source, an outsourcing program designed to support Cambridge independent financial advisors.”