A former wirehouse advisor, who manages more than $663 million in client assets, joined Wells Fargo Advisor Financial Network, a spokeswoman said.

Jim Murray previously held positions at U.S. Trust and Merrill Lynch, both units of Bank of America, according to a Wells Fargo spokeswoman.

He opened Guidestar Private Wealth Management in West Lake Village, Calif. Besides being Guidestar's founder and managing principle, Murray also supervises the firm's investment portfolio, a spokeswoman said.

"I took a look at my career and decided I need to take charge of my clients and own my business. Going off on my own and opening GuideStar rejuvenated the sense of excitement I feel when I go into work every day," says Murray. "The needs of my client are better met with the structure of an independent practice."

The industry veteran started his career at Lehman Brothers 23 years ago, according to FINRA BrokerCheck records. After that, Murray moved to Smith Barney and UBS prior to joining Banc of America in 2006.

A spokeswoman for Bank of America could not be immediately reached for a comment.

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