Financial advisors Christopher Andrews, Jacob Robert Webb, David Luther signed on with J.P. Morgan Securities in Palm Beach, Florida, where they report to regional director Rick Penafiel.
Source: J.P. Morgan Securities grabs $1 billion Merrill Lynch team | Bank Investment Consultant
Advisors Wes Darilek and Saul Lico left Wells Fargo to sign on with Hilltop’s private client group in Dallas in June. Veteran advisor Darilek spent 11 years at the wirehouse after a short stint at AXA Advisors, while Lico spent his entire seven-year career with Wells, according to FINRA BrokerCheck.
Source: Hilltop Securities adds 4 new advisors | On Wall Street
Derek Rosenberg, a 20-year brokerage industry veteran who leads three advisors on the team, said he began looking for another employer about a year ago out of concern that Merrill’s focus on new household and new asset growth was affecting the team’s ability to serve existing clients and to effectively prospect. To avoid a payout cut tied to growth hurdles in Merrill’s 2018 compensation plan, the team added 10 new household accounts this year.“Our team has grown and hit all of those bogies,” Rosenberg sai
Source: Merrill Team in Vegas with $2.4 Mln Production Joins Ameriprise – AdvisorHub
Two brokers in Rhinebeck, N.Y., have left Wells Fargo Advisors to start their own independent firm affiliated with Raymond James Financial Services. Katherine Reisfeld confirmed on Monday that she and her partner, Barbara Boccuto, along with a client associate, left Wells, where they were managing around $150 million in assets for clients, to escape big-firm bureaucracy and continuing questions about why they should remain loyal to a scandal-plagued bank parent.
Source: Wells Fargo Duo Goes Indie with RayJay in Upstate New York
The bank’s wealth management unit posted $18.6 billion in revenue, added 560 advisors over the course of 2017, and for now remains committed to the Broker Protocol.
Source: Merrill Lynch Brings in More Advisors, Record Revenue For BofA
The latest team to bust UBS’s June and challenge the retention project is led by Ronald Kikawa, a managing director who had been with UBS since 2007. Along with senior vice presidents Karen K.Y. Yasukawa, Gregg Matsuura, Wesley K. Yamamoto and six other teammates, the group generated more than $5 million in production on client assets “in excess of $3.5 billion,” according to Raymond James. More than half of those assets were held outside of UBS, said a person familiar with their business.
Source: June Busts UBS Wealth Balloon as Another Multi-Million-Dollar Team Jumps – AdvisorHub
Raymond James recruited a Wells Fargo team that managed $500 million in client assets and generated more than $2.5 million in annual revenue, according to a spokeswoman.
Source: $500M Wells Fargo team moves to Raymond James’ indie side | Financial Planning