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Advisors on the move: 71 of biggest, most recent jumps

It’s been a busy couple of months for RIA breakaways and regional BDs.

More than 70 teams and solo producers have made career changes since July 1, according to company announcements.

Dynasty Financial Partners was among the biggest beneficiaries of wirehouse talent looking for greener pastures. The firm, which services breakaway advisors, helped two big Merrill Lynch teams go independent. Each team previously managed $1 billion or more in client assets, according to the advisors.

Advisors on the Move September 2018 edition cover image

Regional brokerages have been on an aggressive recruiting tear lately. Stifel picked up a slew of advisors, many from Wells Fargo. Raymond James, where advisor head count recently hit a record high of 7,719, also added a number of new advisors to its independent and employee channels. The new hires included Raymond James’ biggest hire of the year so far: a former Wells Fargo team that oversaw $1 billion.

To see these and other hires, career moves and executive appoints, scroll down.

To see our last roundup of hires, click here.

Wells Fargo woes, bureaucracy spur veteran team’s indie move
Advisors Asa Graves, his father A. Wesley Graves and J. Douglas Light
Compliance delays, a lack of client customization solutions, and damaging revelations compelled a team of longtime Wells Fargo advisors to leave the mammoth bank for greener pastures of their own making.

Advisors Asa Graves, his father A. Wesley Graves and J. Douglas Light opened their own independent firm, Graves-Light Private Wealth Management, in Harrisonburg, Virginia. The trio, which has worked together since 2007, expects to manage $700 million in assets for clients in Northern Virginia, the Richmond metro area and the Shenandoah Valley.

“In the last five years, it became increasingly difficult for us to operate at Wells Fargo,” says the younger Graves. “A large part of why we decided to leave is that Wells Fargo is such a large institution. It has been in the press frequently for negative things and that weighed on our clients’ minds. There is also concern that these firms are too large to manage. Getting things through compliance took an increasingly long time. The way we served clients changed and large BDs were corralling in advisors’ ability to customize solutions.”

Rounding out the team are senior client associates Kara Morgan and Angela Moats.

To read more, click here.
Raymond James lands $1B team
After more than a decade with Wells Fargo, a nine-member team moved its practice to Raymond James for its corporate culture and platform. Left to right: (Seated) Stephen Adler, Mark Levy, (Standing) Michael Lubin, Allison Guzman, Christopher Swanson, Loriann Montanez, Stephen Orzo, Roger Jee
Raymond James picked up a $1 billion team from Wells Fargo, making it the biggest hire of an already busy recruiting year for the regional firm.

The nine-member team joined Raymond James' employee channel in New York and includes support staff and four veteran advisors: Stephen Adler, Mark Levy, Roger Jee and Michael Lubin.

They were drawn to Raymond James for its culture and as a place to grow their expanding practice, they say. "It represents the way we like to do business. It's client-centric and FA-centric," Levy says.

Also moving with the team are Allison Guzman and Stephen Orzo, both of whom are now in Raymond James’ advisor training program; Loriann Montanez, senior registered client associate; Christopher Swanson, senior investment management specialist; and James Havell, practice marketing associate.

To read more, click here.
$1B Merrill Lynch team breaks away to form RIA
Michael Henley Dynasty Merrill Lynch IAG
A Merrill Lynch team managing almost $1 billion in client assets opened up an RIA with Dynasty Financial Partners.

Wyeth Private Wealth, led by CEO Michael Henley, works with high-net-worth individuals and specializes in navigating complex tax strategies. The Chadds Ford, Pennsylvania-based team includes COO Alison Brooks, founding partners Steve Maconi, Mark Jackson and Tracy McGuire, CCO Brittany Kalsky, senior associate Erin Yake and associate David Clark.

Maconi, who has served retirees from nearby conglomerate DuPont in Wilmington, Delaware for more than 35 years, will serve as the firm’s chairman.

At 34 years old, Henley was ranked No. 1 in Delaware in Forbes’ “America’s Top Next Generation Wealth Advisor” in 2018 and ranked No. 42 nationwide. Six out of the eight partners are in their 30s. “We have a two or three-decade runway ahead of us,” Henley says. “We can really see ourselves building out the business, and we weren’t looking to build it inside a big bank. We wanted to do it on our own.”

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$386M Merrill Lynch advisor jumps ship
BB&T
An advisor ranked as one of Forbes’ top 100 advisors in Texas left Merrill Lynch for BB&T Scott & Stringfellow, a regional brokerage firm.

Don Bescher managed $386 million in assets at Merrill Lynch, according to Forbes. He was an advisor at the wirehouse for 21 years prior to his departure.

Read more here.
Stifel recruits $400M Wells Fargo team to open new branch
Wells_Fargo_building_morning_light_Bloomberg_News
Stifel lured former Wells Fargo advisors Brendan Wolverton, his son Josh and Alen Pellerin. They managed $400 million at Wells Fargo, according to Stifel.

The senior Wolverton and Pellerin will operate from Stifel's newly-opened office in Lawton, Oklahoma. Wolverton is a veteran financial advisor, having started his career at Wells Fargo predecessor firm A.G. Edwards in 1989, according to FINRA BrokerCheck records. Pellerin joined him at the firm in 2004.

Josh Wolverton started his advisory career at Wells Fargo in 2012, according to BrokerCheck records.

A Wells Fargo spokeswoman declined to comment on their departure.

Read more here.
$415M Wells Fargo team bolts for LPL
Blue Sky. Signage stands outside a Wells Fargo & Co. bank branch in Evanston, Illinois, U.S., on Tuesday, July 10, 2018. Wells Fargo & Co. is scheduled to release earnings figures on July 13.
Mark Rose, Robert Krivit and Gabriel Gallante of Rockline Wealth Management left Wells Fargo Advisors for LPL, the firm said on June 28.

The Plainview, New York-based team, which has about $415 million in client assets, joined LPL’s corporate RIA after three and a half years together at Wells Fargo.

Read more here.
RBC hires $200M advisor for new branch
Small signage is displayed outside of a Royal Bank of Canada (RBC) branch during the company's annual general meeting in Toronto, Ontario, Canada, on Thursday, April 6, 2017
RBC Wealth Management brought on two financial advisors to open a new branch in St. Louis.

Branch director Brian Bell and advisor Aaron Foster come to the firm from J.P. Morgan Securities. Collectively, they managed about $200 million in assets, according to RBC.

Bell spent 13 years at J.P. Morgan, according to FINRA BrokerCheck, and 11 years at Merrill Lynch before that. He managed $175 million at J.P. Morgan, according to the firm. Foster spent seven years at J.P. Morgan and before that worked at Merrill Lynch for six years.

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Janney nabs $177M team from Wells Fargo
Janney-generic-lobby
Janney Montgomery Scott hired a team overseeing $177 million in client assets from Wells Fargo Advisors.

The MD Wealth Management Group is made up of advisors Bradley Dickens and Jason Minor, as well as client associate Deidre Ramer. The group joins Janney’s office in Franklin, Tennessee, the first branch office in the greater Nashville area, according to the firm.

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Raymond James adds $300M advisors to indie, employee BDs
Michelle Spaziani Raymond James advisor.jpg
Raymond James recruited advisors managing approximately $300 million from two rivals, a spokeswoman confirmed.

Michelle Spaziani, pictured, joined the firm's independent broker-dealer from Wells Fargo. She managed about $118 million in client assets and generated approximately $940,000 in annual revenue, according to Raymond James. She now operates as Summit Behavioral Wealth in Greenfield, Massachusetts.

Raymond James also snapped up advisor Michael Trinen from RBC in Fort Collins, Colorado. He previously managed about $182 million and generated more than $1.3 million in production.

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In recruiting sweep, Benjamin F. Edwards lures 8 advisors from 4 rivals
Benjamin F. Edwards
Benjamin F. Edwards, a regional broker-dealer, picked up eight advisors overseeing more than $600 million in client assets, a spokeswoman said.

The new hires, the majority of whom come from Wells Fargo, build on years of aggressive recruiting by the St. Louis-based firm, which was founded in 2008.

Advisors joining from Wells Fargo include David Herr and his son Tyler in Chandler, Arizona; Bill Raymon in Birmingham, Alabama; James Garner in Atlanta; and James Goehl in Woodstock, Illinois.

All the advisors except the younger Herr started their careers at A.G. Edwards, which later became part of Wachovia and then Wells Fargo. Tyler Herr got his start at Wells Fargo in 2008, according to FINRA BrokerCheck records.

Benjamin F. Edwards’ other new recruits include former Stifel advisor David Kohlmeyer, who joined the firm’s office in Wheaton, Illinois. Kevin Rodeffer left LPL Financial to join Benjamin Edwards in Galesburg, Illinois. And former SunTrust Bank advisor Anthony Swart, joined Benjamin Edwards in in Sarasota, Florida.

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Former top Barron’s advisor leaves Merrill Lynch for Dynasty
Man walking past entrance Bank of America Merrill Lynch in London Oct. 9, 2014 Bloomberg News
A former Merrill Lynch advisor, who was terminated for not properly filing compliance forms, has opened an RIA with Dynasty Financial.

Bruce Keebeck Lee opened Keebeck Wealth Management and will be joined by Partner Joseph Polakoff, Chief Investment Officer Mathew Klody, Director of Operations Stephanie Roberts, Vice President of Client Solutions Alexa Hyman and Matthew Carey, an analyst. The team is headquartered in Oakbrook Terrace, Illinois.

Lee has been named to Barron's Top 100 Financial Advisors list intermittently since 2007. This year, he ranked 79 in the rankings and managed $2.9 billion in client assets with an average client net worth of $100 million. He has also been recognized among Financial Times' Top 400 Financial Advisors since as early as 2014, according to a company release.

When asked about his current AUM, Lee estimated the figure as $2.4 billion.

Lee was discharged from Merrill in April for “failure to personally complete mandatory firm compliance training, resulting in a loss of management’s confidence,” per FINRA BrokerCheck records.

“They had their reasons and I’m assuming those reasons were for the benefit of the institution,” Lee says, adding that he still counts many of his former colleagues as friends and is planning to resolve the issue with Merrill Lynch.

To read more, click here.
$465M Merrill team makes first career change, jumps to RBC
Logo with grasss of Royal Bank of Canada (RBC) headquarters building during the company's annual general meeting in Toronto, Ontario, Canada, on Thursday, April 6, 2017
RBC hired advisors Jim Senderling and John Robbie, who managed $465 million at Merrill Lynch, according to RBC. This is their first move after spending 27 and 25 years, respectively, at the wirehouse, according to FINRA BrokerCheck.

“The decision to move to a different firm didn’t happen overnight,” Senderling said in a statement. “After careful consideration, we made the decision to join RBC Wealth Management because of the unique culture, as well as the management team who truly believe that clients come first.”

The advisors will be joining RBC’s branch in Conshohocken, Pennsylvania.

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Stifel hires 3 advisors from Merrill, Wells, Oppenheimer
Barbara Hughes Stifel advisor cropped
Stifel picked up three advisors managing more than $200 million in client assets, a spokesman confirmed.

Shelley Schudlich, an industry veteran of three decades, oversaw $86 million at her previous employer, Oppenheimer, according to Stifel. She joined Stifel's office in Port Huron, Michigan.

Former Merrill Lynch advisor Barbara Hughes, pictured, joined Stifel in Springfield, Missouri. She was responsible for $60 million in client assets while at Merrill, according to Stifel. Hughes had been with Merrill Lynch since 2008, according to FINRA BrokerCheck records.

Marilyn Black, an advisor in Geneva, Illinois, joined Stifel from Wells Fargo, where she oversaw $58 million in client assets, according to her new employer. Black, an advisor of 15 years, had been with Wells Fargo since 2014, according to BrokerCheck records.

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RBC hires $190M Merrill Lynch team
RBC logo is reflected on a surface in Toronto, Ontario, Canada, on Friday, May 19, 2017 Bloomberg News
RBC snapped up a three-advisor team from Merrill Lynch that managed around $190 million in client assets, according to the firm.

Michael Gee, Andrea Savva and Raymond Lee joined the firm's Florham Park branch in New Jersey, RBC says.

Gee has been in the industry for 32 years, according to FINRA BrokerCheck. Savva has been in the industry for 20 years at various firms including Merrill Lynch. Lee has been in the industry for 12 years, first with Smith Barney and then Merrill Lynch, according to BrokerCheck records.

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Brothers move $500M practice to Steward Partners
John Kortze Steward Partners advisors photo cropped.jpg
John and Cary Kortze, who are brothers and financial advisors, left Wells Fargo for Steward Partners, an independent firm affiliated with Raymond James.

The duo oversaw $500 million in client assets, according to their new employer.

"For the first time in our careers, I felt that we needed to make a change not for us but for our clients," John Kortze, pictured, says.

The Kortze brothers now staff the firm's newest office in Newtown, Connecticut ― Steward Partners' first in the state and 16th branch overall. The firm is headquartered in Washington, D.C.

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Baird opens new office, hires advisors with $239M
Baird courtesy of Baird
Baird furthered its expansion by opening a new branch office staffed by recruits who collectively oversaw nearly $240 million at their previous employers, a spokeswoman said.

Baird's newest hires include Durango, Colorado-based financial advisors William Luthy and Tina McCallum as well as client assistant Marcia Baxter. Luthy will also serve as resident manager in Durango, according to Baird.

Together, they oversaw $135 million in client assets while at Morgan Stanley, Baird said.

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Stifel beefs up West Coast presence, nabs 2 advisors from Wells Fargo
Jeff Sutton Stifel financial advisor cropped photo.png
Stifel hired two former Wells Fargo advisors to expand its West Coast presence.

Jeff Sutton, who managed $198 million at Wells Fargo, joined the Modesto branch in California, according to Stifel. Sutton, pictured, spent 23 years at Wells Fargo and A.G. Edwards.

The regional BD’s Newport Beach branch welcomed Kerry Mangano, who managed $110 million in client assets and worked 26 years at Wells Fargo and A.G. Edwards.

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Raymond James snags $550M wirehouse team from Wells Fargo
Raymond James by Raymond James
Raymond James hired five financial advisors from Wells Fargo for its independent division.

The advisors oversaw around $550 million in assets, according to Raymond James. Father-son duo Jim Broadway and Jim Broadway, Jr., William Perkins, Kyle Evens and Kent Nuzum operate as four separate teams serving a variety of clients including business owners, retirees, families and individuals, according to the firm.

All four teams will be joining Raymond James in Roswell, Georgia.

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$675M Well Fargo team opens high-net-worth RIA
Wells Fargo shiny glass signage displayed on the exterior of a bank branch in Dallas on Monday, July 10, 2017 Bloomberg News

A $675 million Wells Fargo FiNet team left the firm and launched an RIA with help from the independent consulting firm Fusion Financial.

Landsberg Bennett Private Wealth consists of partners Michael Landsberg, Lew Bennett and Anthony Dubbaneh. Also joining the Punta Gorda, Florida-based team is Director of Business Development Faiza Kedir, Chief Compliance Officer Debra Cooper, advisor Flor Mendoza, planning associate Adrienne Moore, administrative assistant Lindsay Decker and portfolio analyst Tommy Williamson.

Landsberg was named to seven of the last nine Barron’s Top 1,000 Advisors lists, including in 2018. He landed at 70 this year, down one spot from 69 in 2017, according to the list. Dubbaneh ranked 297th on Forbes’ Top Millennial Advisors list in 2018 as a member of Landsberg Bennett with $650 million in client assets and an average client account of at least $2 million.

To read more, click here.
Stifel snaps up advisors with $252M from two rivals
Mark Graham Stifel financial advisor; formerly with Wells Fargo
Stifel recruited three financial advisors who managed a combined $252 million in client assets, according to a spokesman.

Stifel picked up advisors Mark Graham, pictured, and Brian Bissell from Wells Fargo. Graham will operate from a new Stifel office in Spokane, Washington. Bissell is based in Pasadena, California.

Also joining Stifel is Craig Braun, a former Ameriprise advisor who oversaw $82 million in client assets. This is Braun's first career move. He's been with Ameriprise since 1992, according to BrokerCheck records.

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J.P. Morgan Securities nabs $753M UBS team
Signage stands on display outside the JPMorgan & Chase Tower in downtown Chicago, Illinois, U.S., on Saturday, Oct. 7, 2017.  AKA J.P. Morgan.
J.P. Morgan Securities picked up two UBS advisors who managed more than $753 million in client assets, a spokeswoman confirmed.

Patrick Amato and Tad Waldbauer joined the firm in New York as financial advisors and managing directors. They report to Regional Director Mike Lee.

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Raymond James hires $462M Wells Fargo team
$462 team moves to Raymond James 8/10/18
Keen to continue its record-breaking hiring spree, Raymond James recruited an advisor duo from Santa Rosa, California.

Linda Pardini and Douglas Wulbrecht joined Raymond James & Associates, the firm’s employee broker-dealer, from Wells Fargo Advisors, where they managed $462 million in client assets. Pardini and Wulbrecht started their careers at regional brokerages.

“We came to Raymond James because we wanted to get back to our roots,” Wulbrecht said in a statement.

To read more, click here.
Wells Fargo loses $161M team to Ameriprise
Burg Group 8/15/18
Wirehouse veterans John Burg and Tamara Colon opted to shift their practice to Ameriprise's employee side.

The pair will operate as the Burg Group in Temecula, California. They managed about $161 in assets, according to their new employer. Joining them will be client services associate Amy Irvine.

“We wanted a firm with size and scale, and chose Ameriprise because of their commitment to wealth management and financial planning,” Burg said in a statement.

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$200M Wells Fargo team jumps to Steward Partners
Signage is displayed outside a Wells Fargo & Co. bank branch in Palatine, Illinois, U.S., on Tuesday, July 10, 2018. Wells Fargo & Co. is scheduled to release earnings figures on July 13.
Steward Partners hired two advisors from Wells Fargo, marking new gains for the fast-growing independent firm affiliated with Raymond James.

Advisors Corrado Spezzacatena and James Galbraith III joined Steward Partners' office in Morristown, New Jersey. Both Spezzacatena and Galbraith had been with Wells Fargo since it acquired A.G. Edwards, the regional brokerage firm where the duo previously worked.

To read more, click here.
$550M team joins RBC
Royal Bank of Canada (RBC) headquarters building in Toronto, Canada, on Thursday, April 6, 2017 Bloomberg News
RBC Wealth Management snagged two advisors who oversaw more than $550 million in combined client assets while at Wells Fargo, the firm said.

RBC’s most recent hires from the wirehouse are Bruce Rosen, who managed $390 million in assets, and Michael Greth, who oversaw $170 million at Wells Fargo, according to RBC.

Rosen has 35 years of experience in the field, according to FINRA BrokerCheck, the past 15 of which he spent at Wells Fargo. He is joining the San Francisco office of RBC, according to the firm.

Greth is joining the Des Moines, Iowa office at RBC, according to the firm. He worked at Wells Fargo and A.G. Edwards for 13 years, according to FINRA BrokerCheck.

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Stifel poaches 2 brokers in wirehouse grab
Stifel-slideshow-size
Stifel nabbed two advisors from Wells Fargo whose combined client assets total $179 million.

Russ Schwartz is a 21-year industry veteran who managed $144 million at the wirehouse. In addition to Wells Fargo and A.G. Edwards, Schwartz has also worked for Dean Witter Reynolds, according to FINRA BrokerCheck records.

Also making the move from Wells Fargo is Kaival Patel. He has 14 years of experience in the investment advisory space and oversaw $35 million in client assets at Wells Fargo.

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2 teams, each managing $235M, leave Merrill Lynch
David Patton Raymond James Aug 21 2018
After more than 30 years working as a financial advisor at Merrill Lynch, Michael Kernicky is moving to Janney Montgomery Scott and taking his sons with him. Together they oversaw $235 million in client assets. They are based in Media, Pennsylvania.

In a second move, another $235-million team left Merrill Lynch for Raymond James. David Patton (pictured), Miles O’Mailia and Theresa Cooper are based in Maumee, Ohio. They operate as independent advisors at Raymond James.

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Stifel and Snowden Lane pick off Wells Fargo advisors
Signage is displayed outside a Wells Fargo & Co. bank branch in Schaumburg, Illinois, U.S., on Tuesday, July 10, 2018. Wells Fargo & Co. is scheduled to release earnings figures on July 13. Photographer: Christopher Dilts/Bloomberg
Six advisors left Wells Fargo to join Stifel and Snowden. They managed more the $370 million in combined client assets.

Regional broker-dealer Stifel picked up four of the recent departures. Port Huron, Michigan-based advisors Mike Anderson and Ted Korodan previously managed $168 million in client assets while at Wells Fargo according to their new employer.

In Medford, Oregon, Stifel picked up brokers Hobart Marliave and Perry Stannard. They previously oversaw $43 million and $34 million in client assets, respectively.

Meanwhile, independent firm Snowden Lane Partners hired former Wells Fargo advisors Keary Castleberry and Lara Sterns. They oversaw $126 million and are based in San Antonio, according to Snowden Lane.

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Stifel nets advisors with $660M
David Manning Stifel advisor cropped.jpg
A recruiting sweep netted Stifel five advisors managing more than $660 million in client assets, according to the company.

Advisor Craig Johnson, a 42-year industry veteran, joined the firm's Phoenix branch. He had been previously affiliated with UBS where he was responsible for $211 million in client assets, according to his new employer.

In Louisville, Kentucky, Stifel hired former Merrill Lynch advisor Patrick Strehl. He oversaw $169 million in assets while at Merrill, according to Stifel.

In a rare independent-to-employee move, Stifel hired advisor Michael Iannarino. He previously operated Cephas Capital Partners & Advisory, an RIA he founded in 2015, according to the firm's website. Iannarino oversees $80 million in assets, according Stifel.

Advisor Josh Lord joined Stifel's New York City office from rival regional brokerage Raymond James & Associates.

And, David Manning, pictured, joined the firm from Wells Fargo where he oversaw $140 million, according to his new employer.

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Janney scoops up $445M Wells Fargo advisors
Pedestrians pass in front of the Wells Fargo & Co. corporate office in Birmingham, Alabama, U.S., on Wednesday, April 11, 2018. Wells Fargo & Co. is scheduled to release earnings figures on April 13. Photographer: Wes Frazer/Bloomberg
Wells Fargo lost four advisors managing a combined $445 million in client assets to Janney Montgomery Scott.

Advisors Glenn Ratcliffe, Samuel Sammarco, William Moore and William Nice are joining Janney at its Fairfield, Connecticut, and Syracuse, New York, branches.

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Ameriprise recruits $140M wirehouse team
De Arcangelis team - Wells Fargo to Ameriprise
A Wells Fargo team left the wirehouse to join Ameriprise.

The group is comprised of financial advisor Peter De Arcangelis, his wife, Gloria De Arcangelis, a client associate, and his daughter, Alessandra De Arcangelis, who is training to be an advisor. De Arcangelis manages $140 million in assets, according to Ameriprise.

De Arcangelis is based in Charlotte, North Carolina.

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Ameriprise snags 2 advisors with $163M from rivals
Ed Pontarelli and Carrie McPherson Ameriprise Sept. 5,2018
Ameriprise lured away two new advisors from competitors AXA Advisors and Oppenheimer.

Gregory Manto managed $87 million at AXA Advisors, according to Ameriprise. He is based in New York City and has 22 years of experience in the industry, according to FINRA BrokerCheck. He joined Ameriprise's independent franchise.

The other advisor, Ed Pontarelli, joined the firm's employee side earlier this year in Providence, Rhode Island. He came from Oppenheimer, where he managed approximately $76 million in assets, according to Ameriprise. Pontarelli, pictured with Carrie McPherson registered client service associate, has 18 years of experience in the industry, according to FINRA BrokerCheck.

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LPL hybrid grabs 4 teams with $1B for RIA channel
LPL Financial by Bloomberg
Stratos Wealth Network, an LPL Financial hybrid RIA, grabbed four teams with combined client assets of $1 billion and acquired another practice with $120 million, the firm said.

Anthony Pratt and William Baker’s Wexford, Pennsylvania-based Riverview Wealth Partners, came to Stratos in late June from Citizens Bank, according to FINRA BrokerCheck. They managed $450 million in client assets at Citizens.

Thomas Pacilio and Daniel Besse’s Westport, Connecticut-based team, Clapboard Hill Private Wealth, oversaw $230 million at RSM U.S. Wealth Management, an RIA, before coming to Stratos in March.

Michael Feller, Jason Hostetler and Tina Migge moved over in the spring from Merrill Lynch.

Additionally, the OSJ purchased Marlton, New Jersey-based Heald Financial Advisors, a former National Planning practice with $120 million in client assets.

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$900M team joins J.P. Morgan Securities
JPMorgan-glass-sign-Bloomberg-News.jpg
J.P. Morgan Securities picked up two advisors who oversaw $900 million in client assets, a spokeswoman confirmed.

Chris Sheets and Forrest Green joined the bank’s Houston branch from Bernstein. They cater to ultrahigh–net-worth families, according to their new employer.

Sheets and Green had been registered with Bernstein since 2002 and 2004, respectively, per FINRA BrokerCheck records.

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Merrill Lynch loses $426M team
Entrance Bank of America Merrill Lynch Financial Centre in London on October 9, 2014 BLOOMBERG NEWS
Two advisors who managed $426 million at Merrill Lynch jumped to RBC Wealth Management.

Joseph Chu and Christopher Phillips joined the Stamford, Connecticut, branch of RBC. They moved at the end of August, according to FINRA BrokerCheck.

This is the first move for Chu, who has spent the entirety of his 16-year financial career at the wirehouse, according to FINRA BrokerCheck. Phillips has 14 years of experience, 13 of which he spent at Merrill Lynch.

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5 wirehouse advisors with $420M jump to Stifel
Jerod Havel Stifel advisor.jpg
Stifel picked up financial advisors from rivals Wells Fargo and UBS, a spokesman confirmed.

Former Wells Fargo advisors John Noerdlinger and Tom Cotrone, who joined Stifel’s branch in Oklahoma City, Oklahoma. While at the wirehouse, they oversaw $135 million and $105 million in client assets, respectively.

Also joining from Wells Fargo are advisors Vicki Bayley and Jerod Havel, pictured. The two advisors, who oversaw $72 million in client assets, now operate from Stifel’s office in Modesto, California.

Stifel’s fifth hire is advisor Virginia Kuwahara, who previously was affiliated with UBS. She now works at Stifel’s Rancho Bernardo office, also in California. While at UBS, she was responsible for overseeing $110 million in clients’ assets.

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Morgan Stanley loses father, daughter and son team to Raymond James
Raymond James team advisors Thomas O’Neill, Jessica O’Neill, CFP®, and Thomas O’Neill Jr., Danielle Takacs (client relationship associate)
Raymond James hired a family of advisors from Morgan Stanley.

Advisor Thomas O’Neill and his children, Jessica and Thomas Jr., joined Raymond James in Mount Laurel, New Jersey, a spokeswoman confirmed. They previously managed $203 million in client assets, according to their new employer.

They made the move because they were drawn by Raymond James’ culture and technology tools, the senior O’Neill said in a statement. “The tenure and retention rate of the advisors at Raymond James was another positive indication of the culture at the firm,” he said.

Read more here.
Merrill Lynch advisor heads to RBC
Merrill Lynch By Bloomberg News men shaking hands
Felipe Blanco, who managed $213 million in assets at Merrill Lynch, joined RBC the last week of August.

In a statement, Blanco stated he decided to leave Merrill because RBC offered better growth opportunities for his business.

“After careful consideration, I made the decision to join RBC Wealth Management in Miami because of the firm’s commitment to growing in the U.S., as well as its commitment to helping me grow my business,” he said.

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Stifel sweeps up $1B wirehouse recruits
Eric Conover Stifel advisor
Stifel recruited 11 financial advisors overseeing more than $1 billion in client assets.

Eric Conover, pictured, joined Stifel in Quincy, Illinois. He oversaw $183 million in client assets while at Wells Fargo, according to his new employer.

Also joining from Wells Fargo is John Barry Jenkins, who oversaw $65 million in client assets. Jenkins, who is based in Memphis, Tennessee, is a 32-year industry veteran, according to BrokerCheck.

Father-and-son team John A. and John P. Banks left Wells Fargo to join Stifel in Center Valley, Pennsylvania. They oversaw $65 million at Wells Fargo, where they had worked since 2006. The Banks team was previously affiliated with Morgan Stanley.

Stifel also picked up former UBS advisor Craig Whitten in Phoenix. Whitten oversaw $71 million while at UBS, according to Stifel. He had been registered with the wirehouse since 2001, per BrokerCheck.

Finally, Stifel picked up a Morgan Stanley team that oversaw $644 million in client assets. The Bourbonnais, Illinois-based team is comprised of Zachary Birkey, Ronald Ouwenga, Jeff Schimmelpfennig, Myron Hendrix, Brian Thomas and Michael Bruner. Morgan Stanley filed a complaint against the team, seeking a temporary restraining order for alleged breach of contract and unfair competition, according to court documents.

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Wells Fargo loses fiduciary manager to Laird Norton Wealth Management
Carla Wigen Wells Fargo manager - Sep 13, 2018
Carla Wigen, former regional manager of investment and fiduciary services at Wells Fargo’s private bank, moved to Laird Norton Wealth Management, a Seattle-based firm advising about $5 billion in assets. Wigen joins the senior leadership team as managing director of fiduciary strategy.

As the new member of the senior leadership team, Wigen will develop strategy to expand the firm’s fiduciary operations, specifically in acquisitions and retention.

Wigen has 20 years of experience in wealth management and private banking, focusing on trusts and estate planning, according to Laird Norton. She was at Wells Fargo for a little more than eight years, according to her LinkedIn profile.

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Baird promotes insider as new exec, hires $150M team
Laura Thurow becomes COO Baird - Aug 7 2018
Baird promoted a nearly 20-year veteran of the firm as part of a succession plan for when its chief operations officer retires.

Laura Thurow, pictured, will become director of wealth solutions and operations. She will also become the third woman to join the executive committee at the firm.

Baird also picked up two recruits in Charlotte, North Carolina: advisor H.B. Smith and assistant financial advisor Daniel Bryant. They oversaw $150 million in assets at their former firm, Wells Fargo, according to Baird.

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Morgan Stanley recruits Betterment exec to beef up digital strategy
People sit across from Morgan Stanley headquarters in New York, U.S., on Thursday, July 12, 2018. Morgan Stanley is scheduled to release earnings figures on July 18. Photographer: Bess Adler/Bloomberg
Morgan Stanley hired a top executive from independent robo advisor Betterment as part of its effort to expand digital services for customers and financial advisors.

Former Betterment Chief Marketing Officer Paul Halpern has joined as head of deposits and banking services for the Morgan Stanley Private Banking Group, the bank announced in a press release on Tuesday.

Halpern will be tasked with the development of digital banking products and solutions, as well as working with financial advisors on client engagement, the bank said. He will coordinate with Paul Vienick, head of Morgan Stanley online/mobile and digital banking.

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Stifel shakes up leadership, appoints new execs
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Stifel shuffled its executive leadership Tuesday, promoting two insiders; David Sliney will now serve as chief operating officer and Jim Marischen will take over as chief financial officer. Sliney and Marischen have been with the company since 1992 and 2008, respectively, according to a company press release.

James Zemlyak, who has served as CFO since 1999, will now focus solely on wealth management, a business he has overseen since 2011. Zemlyak also remains co-president of Stifel Financial alongside Victor Nesi, who leads the company's institutional group.

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Merrill fills empty manager seats by promoting insiders
Merril Lynch (1) by Bloomberg
Merrill Lynch turned inward to fill two empty management positions.

Nik Totaro and Deborah Shepherd take on their new leadership roles at a time when Merrill Lynch has cut back on recruiting efforts, upped its technology investments and put in place new incentives for its existing 14,000 advisors.

Totaro will serve as market executive for Merrill's operations in Stamford, Connecticut, according to an internal company memo seen by On Wall Street. Market executives are the firm's equivalent of complex managers, overseeing large numbers of financial advisors. Totaro will oversee 157 advisors.

Shepherd will take the helm for Merrill Lynch's market in Short Hills, New Jersey, according to another company memo seen by On Wall Street. She will oversee 144 advisors.

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Broadridge picks new CEO
Tim Gokey Broadridgte CEO as of Jan 1, 2019, cropped photo
Tim Gokey will serve as the next CEO of Broadridge Financial Solutions, an investor communications and technology company that provides services to banks, broker-dealers and asset managers.

Gokey replaces Rich Daly effective Jan. 2, 2019. Daly will become executive chairman of Broadridge’s board of directors.

Gokey has been with Broadridge since 2010 and served as president since August 2017, according to the company. He has worked on the development of the firm’s capital markets and wealth management businesses.
Regional BD taps new tech exec
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Wedbush Securities, a regional brokerage firm headquarted in Los Angeles, appointed Danny Nadalalicea as its new chief information officer.

Nadalalicea, who will also serve as a member of the firm’s executive committee, reports to Co-Presidents Richard Jablonski and Gary Wedbush. Prior to joining Wedbush Securities, Nadalalicea worked at CLSA for 12 years, according to Wedbush.