Two advisors joined Merrill Lynch from UBS, where they generated more than $3 million in annual revenues, according to a Merrill spokeswoman.
Advisors Matt Yonally and Chris Compogiannis managed more than $300 million in assets while at UBS.
Yonally said they made the move to Merrill because "we believe that their lending capabilities and goals-based wealth management process distinguishes them from other firms."
Their move comes as the wirehouses have been growing their lending capabilities in an effort to bring in more assets and deepen client relationships – particularly with wealthy and ultrawealthy clients.
The team joined Merrill's office in Santa Barbara, Calif., where they report to Market Executive Linda Patel. Also moving with the team are client associates Amy Moore and Brenda Coy.
Compogiannis started his career in 1970 with Thomas McKinnon Securities, according to BrokerCheck. He joined Smith Barney in 1990. Yonally joined the firm four years later from Paine Webber, where he started his career in 1984.
The two advisors moved to UBS from Smith Barney in 2008.
Last month, Merrill said it recruited a Morgan Stanley team generating $4 million in annual revenue. The group, led by advisor John Mirsepahi, joined Merrill's Rockefeller Center office in New York.
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