Slideshow Advisers on the move: Stifel grabs recruits with $1.6B in combined AUM

Published
  • August 02 2016, 12:31pm EDT
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Mega teams for Stifel

Stifel recruited teams that managed more than $1.6 billion in client assets from Wells Fargo, Merrill Lynch and Charles Schwab. The regional broker-dealer isn’t the only firm recording mega moves. Dynasty successfully lured teams with nearly $1 billion in combined AUM from Lebenthal and Goldman Sachs onto their independent platform.

See these and all the latest recruiting moves by clicking through our slideshow.

Stifel recruits advisers with $1B in combined AUM

Stifel recruited advisers who managed $1 billion in combined client assets, the firm said.

Former Wells Fargo advisers Herbert Buchbinder, Daniel Stolper and Mary Travis-Swanson managed $500 million in client assets while working for the wirehouse, a Stifel spokesman says. The team is now based in Stifel's Kansas City, Mo. Office.

In a separate move, Scott Link joined Stifel from Charles Schwab. He managed $500 million in client assets, according to Stifel.

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Lebanthal loses $750M elite advisers execs to Dynasty

Two advisers who managed $750 million have left Lebenthal Wealth Advisors to start their own firm with backing from Dynasty Financial Partners, according to a Dynasty spokeswoman.

Carrie Gallaway and Andrew Stern, former wirehouse advisers, are opening YorkBridge Wealth Partners in Bridgehampton, N.Y., and are joined by several former Lebenthal executives, including Jeffrey Lane who served as chairman of the board for Lebenthal Holdings.

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$655M team leaves Merrill for Stifel

Stifel recruited three veteran advisers who oversaw $655 million in client assets while at Merrill Lynch, a firm spokesman says.

Team members William Lloyd, Andrew Means and Peter Willsea joined Stifel's office in Rochester, N.Y.

Lloyd started his career in 1987 with Dean Witter and left two years later for Merrill Lynch, according to FINRA BrokerCheck records. Means started his career at the wirehouse in 1996, per BrokerCheck. And Willsea began his advisory career at Merrill in 2004.

Complex Manager Robert Codignotto said the addition of the team to Stifel will boost the firm's growth in the region.

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HighTower recruits $300M team from Merrill Lynch

A Merrill Lynch team that oversaw $300 million in client assets has left the wirehouse to join HighTower's independent platform, the firm says.

LaRue Gibson, who served as a senior financial adviser at Merrill Lynch, is leading the new HighTower team as a managing director. The team is operating as LRG Wealth Advisors in New York, and will specialize in serving individuals, closely held businesses and nonprofit organizations, according to the firm.

Other team members include managers Kevin Jackson and Naintara Ramoo-Goodgame, analysts LeAnn Yee and Kemnjika Ohayia, and support staff Amanda Green. Yee is a new addition to Gibson’s team.

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Advisers with $240M in combined AUM join Raymond James

Advisers with a combined $240 million in client assets have joined the independent side of Raymond James, according to the firm.

Jeffrey Grandy, Sophia Bliablias-Grandy, Douglas Souvenir and Keoni Hudson-Rasmussen, who were working for Toronto-based Foresters Financial Services and made annual fees and commissions of close to $1.8 million, have joined Raymond James Financial Services in Lake Oswego, Ore., the firm says. They will report to Western regional director Bill Counsman, according to the company.

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Wells Fargo's FiNet snags advisers from 3 large firms

Wells Fargo's FiNet President Kent Christian said in April that its pipeline for this year would be the biggest in its 15-year history. On Thursday, it added four more advisers from rival firms.

The large bank's independent advisory arm recruited from LPL Financial, UBS and U.S. Bank. They are part of the 2016 crop that Christian predicted will exceed the 102 planners it added in 2015.

The newest additions collectively manage more than $348 million in client assets, according to a statement. They include:

• Ex-UBS adviser John Witt, of Hinsdale, Ill., with $107 million in AUM.

• Former LPL advisers Bob Coombs and Anthony Ortiz, who run the Captiva Group in Newburgh, N.Y., with more than $176 million in client assets.

• Alexander Varela, of Little Rock, Ark., left U.S. Bank, who brings $65 million in AUM.

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(Image by Bloomberg News)

Goldman loses $180M adviser to Dynasty-backed firm.

A Goldman Sachs adviser who managed $180 million in client assets has left to join Corient Capital Partners, the firm says.

Adviser Robby Saggu will serve as a managing director at Corient, which is affiliated with Dynasty Financial Partners, according to the firm. Saggu will operate out of the RIA’s Newport Beach, Calif., headquarters.

Corient was founded late last year by seven advisers from Merrill Lynch’s Private Banking & Investment Group, an elite brokerage unit that serves ultrawealthy clients. The breakaway teams managed a combined $3.3 billion in client assets at the wirehouse.

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Merrill loses $180M adviser to Snowden Lane

A Merrill Lynch adviser who managed $180 million has left the wirehouse to join an existing practice at Snowden Lane Partners, a spokeswoman at the independent firm said.

Sam DeGennaro is merging his practice with the Guth-Fordyce Group at Snowden. With DeGennaro's addition, the New Haven, Conn.-based group will oversee $1 billion in client assets, according to Snowden. The group is also relocating to a larger office within the same city in order to accommodate its nine team members, the firm says.

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$175M Wells adviser goes indie with Raymond James

A Wells Fargo adviser who managed $175 million in client assets has gone independent with Raymond James, a spokeswoman said.

J. Shawn Gentle made more than $1.1 million in revenue before leaving the wirehouse, according to the spokeswoman. He now operates as Gentle Family Wealth Management, based in Birmingham, Ala.

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$150M UBS team goes indie with Raymond James

A UBS team that managed about $150 million has gone independent with Raymond James, according to the firm.

The newly independent firm, named Great Lakes Wealth, became affiliated with the Raymond James Investment Advisors Division, which provides custodial and support services to RIAs.

Great Lakes Wealth is led by managing partners Dewey Steffen and Michael P. Hartman, who serve as CEO and COO respectively. Also moving with the team is Carmela Eastin, director of operations. They are based in Northville, Mich., a suburb of Detroit.

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Wells Fargo loses $1.2M team to Raymond James

A team that generated $1.2 million in annual revenue at Wells Fargo has left to join the independent channel of Raymond James, the firm says.

Advisers Charles Kolias and Joseph Tabaka Jr. joined Pittsburgh-based Confluence Financial Partners, an existing independent firm that is affiliated with Raymond James.

While at Wells Fargo, the advisers managed approximately $137 million in client assets, according to Raymond James.

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$125M team quits Morgan Stanley for Raymond James

Two Morgan Stanley advisers who managed more than $125 million have left the wirehouse to join Raymond James, the firm said.

Frank Urban and David Hanson opened a new office for Raymond James' employee channel in Gainesville, Fla., which is about 70 miles southwest of Jacksonville. Hanson is Urban's son-in-law.

While at Morgan, the team generated over $1 million in annual revenue, according to Raymond James.

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RBC picks up 2 family teams

Two Florida-based teams are joining RBC Wealth Management-U.S. from Morgan Stanley and Raymond James, according to the company.

A father-and-son team, William and Bradley Haring, who together managed $124 million in assets and generated approximately $1 million in production, left Morgan Stanley to join RBC, according to the firm. They operate as the Haring Group.

They join another recently-signed duo, Scott Ramo and his wife Valerie. The two left Raymond James to join RBC's CKM Wealth Management Group, which will have a combined $300 million in assets and generate roughly $2.4 million in annual revenue, according to the firm.

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UBS loses advisers with $70M in AUM to Wunderlich

Two former UBS advisers opened a new office for Memphis-based firm Wunderlich, as the regional wealth management company continues its expansion.

The long-time financial professionals, Kelly Graham and Ed Johnson, managed a total of approximately $70 million in assets at UBS, according to a Wunderlich spokeswoman. Graham brings more than 28 years experience to her new company and Johnson recently topped 33 years in the industry, according to FINRA’s BrokerCheck database.

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U.S. Trust furthers push into nonprofit market with new sales director

Bank of America’s U.S. Trust added a new sales director, as it continues to expand in the nonprofit marketplace.

John Stuntebeck joins U.S. Trust from SEI Investments, where he worked as a regional director with a specialization in endowments, foundations and nonprofits, according to the company. His tasks at U.S. Trust include growing the Southeast division’s outsourced CIO business, a segment where the company is seeing “growing demand,” it says.

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Noyes recruits adviser from City Securities

Noyes Wealth Management recruited an adviser from City Securities, a spokesman said.

Steven Bishop joins the firm's Indianapolis office, the spokesman says. Bishop credits Noyes' corporate emphasis on teamwork and collegiality as some of the reasons behind his decision to join the firm. He will focus on providing wealth management counsel and services to the firm's existing clients.

Bishop started his career at Liberty Securities in 1998 and left to join NatCity in 1999, according to FINRA BrokerCheck records. He moved to City Securities in 2003, per BrokerCheck.

“Steven’s passion and commitment to his client’s best interest will serve Noyes well, as our Wealth Management Group continues its growth,” James Longstreth, Noyes’ market leader says.

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Deutsche Bank Wealth Management names Credit Suisse exec as new Americas products and solutions head

Deutsche Bank appointed an ex-Credit Suisse executive to lead its Global Products and Solutions unit for the firm's Americas region, a Deutsche spokeswoman said.

Steven Mattus joins the German bank as a managing director and will be based in New York, the spokeswoman says. He reports to Patrick Campion, the bank's head of wealth management, Americas and Bernd Amlung, global head of GPS, the firm adds.

“With more than 20 years of experience in the private banking industry, Steven brings to the franchise strong expertise in leading product, distribution and portfolio management teams,” Amlung says.

Mattus was Credit Suisse's Americas head of Assets & Investments and also the firm's ExCo member before taking his position at Deutsche. He held various senior leadership positions while at the Swiss bank, including founder of the firm's Advisory Solutions Group, according to Deutsche.

Mattus entered the industry in 1995 with Donaldson, Lufkin & Jenrette Secruities before joining Credit Suisse in 2003, FINRA BrokerCheck records show. He left the firm to join Jefferies in 2006, only to rejoin Credit Suisse in 2008, per BrokerCheck.

Deutsche has been expanding its wealth management business nationwide, focusing on key markets like the West Coast, Texas and Miami, the firm says. Besides Mattus' appointment, Deutsche recently created two new positions; San Francisco market manager and head of Wealth Planning in the Americas, appointing and hiring Russell Daulton and Sam Petrucci respectively. Petrucci 's team will focus on providing wealth planning; catering to ultrahigh-net-worth clients.

The bank also recruited Susan Rounds as a director and wealth planner for the Western Region, based in Los Angeles.

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Oppenheimer names new managers, pulls in wirehouse talent

Oppenheimer promoted Jim Lowe to senior vice president of its private client division, replacing Tom Fritzlen, who is retiring after 31 years at the company, the firm says.

The brokerage firm, which was hit earlier this month with $2.9 million in sanctions by FINRA for unsuitable sales, has also recruited two wirehouse branch managers in Seattle and Atlanta.

Mark Whaley, head of the private client division, said in a statement that Lowe was selected to succeed Fritzlen due to his extensive industry experience and long tenure at Oppenheimer.

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Wells Fargo's Abbot Downing hires veteran adviser from Bassemer Trust

A veteran adviser left Bessemer Trust to join Abbot Downing, a Wells Fargo unit that serves ultrawealthy clients, according to the firm.

Jay Goetschius, who has worked in financial services for 25 years, joined Abbot Downing's New York office as a managing director, the firm says.

He spent 13 years at BNY Mellon as head of business development for New York City, according to Abbot Downing. Goetschius moved to Bessemer Trust in 2012, according to FINRA BrokerCheck records. While there, he served as a senior wealth adviser in their office in Palm Beach, Fla., Abbot Downing says.

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U.S. Trust expands recruitment nationwide

U.S. Trust added three advisers in various locations to serve the firm's growing demand for wealth management services, a U.S. Trust spokesman said.

Tiffany. L. Barbara joins U.S. Trust's Los Angeles office from BNY Mellon, the spokesman says. Barbara started her career in 1994 with Merrill Lynch before leaving the wirehouse to join J.P. Morgan in 1998, FINRA BrokerCheck records show. She stayed with the firm for nearly seven years before moving to Goldman Sachs in 2005, per BrokerCheck. Barbara then joined Bessemer Investor Services in 2009 and BNY Mellon in 2012, her LinkedIn profile shows.

Chris L. O'Gorman joins U.S. Trust in Fort Lauderdale, Fla., the firm said. Prior to this, O'Gorman was the owner of Creative Sports & Entertainment Finance, a specialty finance company that provides financial guarantees to athletes and entertainers, according to U.S. Trust.

Also joining in Florida is Josh Renick, who is based in Boca Raton. Renick previously worked for Bank of America as an enterprise staffing manager.

(Image by Bloomberg News)

Morgan Stanley recruits teams from J.P. Morgan

Morgan Stanley recruited two teams from J.P. Morgan in Texas, a spokeswoman confirmed. She declined to provide AUM.

Joining Morgan Stanley in Dallas are Robert Moore III, Matthew Smith, Jon Piorkowski and Jonathan Bassham. In Houston, the wirehouse recruited Erich Canseco and Zachariah Zuhdi.

(Image: Bloomberg News)