Washington Wealth Management has recruited two advisors from UBS and Wells Fargo, where they collectively managed approximately $150 million in assets.

San Diego-based Washington Wealth, a subsidiary of independent broker-dealer NFP Advisor Services, is an independent hybrid RIA supporting fee and commission-based independent advisor teams. The firm, also known as WWM, currently has 11 advisor teams and about $800 million in assets under management.

The two advisors are affiliating with WWM under different models; one by integrating into an existing practice and the other by establishing his own. The company says this attests to the attractiveness and flexibility of WWM’s business model.

“As more and more advisors look to escape the captive environment of the wirehouse world, we look forward to being able to offer a true hybrid solution, one that is full service and makes independence easy and beneficial for them and their clients,” WWM CEO Rob Bartenstein, said in a statement.

Former-UBS advisor Morrie Symson is joining Pacific Point Asset Management, a WWM-affiliated firm based in in Woodland Hills, Calif. Symson is a four-decade veteran of the financial services industry, having started his career in 1973 with E.F. Hutton, according to FINRA documents. He worked at UBS for 20 years, most recently at its Encino, Calif., branch.

Mizrahi, previously with Wells Fargo, is opening his own practice, First Point Financial Management, also in Woodland Hills, Calif. He started his career in 1980 with Dean Witter Reynolds, according to FINRA documents.

With offices in California, Connecticut and Virginia, WWM executives say they expect to recruit more advisors yearning for greater independence.

“In the coming months, I look forward to adding even more talented advisors that have grown weary of the wirehouse model,” said David Richman, market area director for Southern California, in a statement.

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