UBS grabbed four Merrill Lynch advisors managing $870 million in client assets, a spokesman said.
Advisors Michael Carr, Kirk Ruth, Jeff Hogue, Jeff Rizzo joined a new UBS office in Gainesville, Fla., where they report to Complex Director Tom Isaacs.
The advisors generated $4.5 million while at Merrill, UBS said. All four advisors had spent their entire careers at Merrill prior to the move.
Carr had been with the wirehouse since joining the industry in 1997, according to FINRA BrokerCheck records. Ruth joined Merrill in 1994. Hogue signed up with the wirehouse in 2000 while Rizzo followed in 2013.
UBS has announced several big hires recently after a series of advisors were lost to rivals. Earlier this month, the wirehouse said it had enticed away a $2 billion team from Morgan Stanley. The four-member team, which operates as the Arthurs Malof Group, joined UBS in Buffalo, N.Y. They generated $10 million in annual revenue while at Morgan, UBS said.
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