Wells Fargo Advisors picked up a UBS team managing $463 million in client assets.

The team, known as Madison Street Financial Group and led by advisors James Percifield and David Heeren, generated $3.5 million in annual revenue.

The group now operates out of two Wells Fargo offices. Percifield and advisor Brad Harber along with two assistants are based in Chesterton, Ind., and report to John Yagla, Greater Illiana complex manager. Heeren and an assistant operate out of Wells Fargo Advisors' Chicago office. Heeren reports to Kevin Ortmeyer, Chicago complex manager.

The team specializes in corporate retirement plans and servicing high-net-worth families, according to a statement from Wells Fargo.

Last week, the wirehouse announced that it recruited advisor Jeffrey Heimstaedt from Oppenheimer, where he managed $113 million in assets and generated $1.25 million in annual production. Heimstaedt joined Wells Fargo's wealth brokerage services division in Newport Beach, Calif.

Percifield started his career in 1992 at Merrill Lynch, according to FINRA records. He moved to UBS in 2008. Heeren is an industry veteran, having earned his Series 7 in 1984. He had been at UBS since 2005. Barber is the junior advisor of the group; he earned his Series 7 in 2005 and joined Merrill that same year. He moved to UBS in 2008.

Also moving to Wells Fargo are Jennifer Espinoza, senior client associate, Paula Betts, senior registered client associate and Johanna Laudicina, senior registered client associate.

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