Ameriprise launched into spring with a spate of new recruits from the four wirehouses and LPL.In the past month, the Minneapolis-based firm has added seven top advisors to its employee division and one to its independent channel. On Friday, industry veteran Norman Howarth moved to Ameriprise from LPL in Charlestown, Mass. He comes with 26 years of industry experience and managed $195 million.In Virginia Beach, Va., Ameriprise snapped up Bill Patton from Morgan Stanley. Patton, who started at Painewebber in 1980, joined Smith Barney in 1992 and remained at that firm through a series of mergers until last week. He manages $150 million in client assets.Jay Geaslen joins Ameriprise from Merrill Lynch. He moved into the firm’s Atlanta office in mid-April and has $194 million in assets. Geaslen began his career in 1991 and had been at Merrill Lynch since 1999, according to records with the Financial Industry Regulatory Authority.

via Ameriprise Adds 8 in Spring Recruiting Spree | On Wall Street.

Wealth Managers Jumping Ship to Avoid Disclosure of Signing Bonusesby Beecher Tuttle4 days agoFinancial advisers are rushing to switch employers before a new regulation requiring them to disclose signing bonuses kicks in. Once the new rule is in place – likely next year – wealth managers who accept six- and seven-figure signing bonuses at a new firm will have to disclose their windfall to clients.The details of the new regulation being developed by the Financial Industry Regulatory Authority in the U.S. aren’t yet clear, and FINRA declined to comment. Recruiters and wealth managers expect advisers to accelerate their job moves in the fourth quarter of 2013. “It will accelerate people moves for sure,” said James Cox, managing partner at Harris Financial Group, a Virginia-based advisory firm. “If you a recruiter, you could not have had a better situation. Advisers will try to jump in under the line.”

via Wealth Managers Jumping Ship to Avoid Disclosure of Signing … | Job News & Advice | eFinancialCareers.

J.P. Morgan Securities announced Wednesday it has added eight advisors to its offices in Boston, New York City, and Florham Park, N.J.The advisors bring a combined $745 million in client assets to the firm, and increase the total number of advisors to 455 as of February 28.“We are taking every opportunity to add top talent in growing markets, and these new advisors bring with them deep experience in the industry and in their markets,” Greg Quental, CEO of J.P. Morgan Securities said in a statement. “The combination of our boutique approach with the extraordinary depth of resources we offer continues to prove attractive to advisors and clients alike.  We are excited to welcome these new advisors to the firm as we grow our business across key markets.”

More Info: J.P. Morgan Securities Expands Advisor Force | On Wall Street.

Stifel Nabs Wells Fargo Team with $1 Billion AUM

Stifel has opened two new offices in the northwest with the addition of an 11-member team that managed more than $1 billion in assets at Wells Fargo.

The advisors, who operate under the name RMG Group, will open two offices in Bellevue, Wash., and Portland, Ore.

“The quality of their business and the integrity of their long-standing reputation in Washington and Oregon solidifies our commitment to the Northwest,” the Western Region director, John Lee, said in a statement. “I am excited about the message this announcement sends to other advisors in the region – Stifel is open for business.”

More Info Stifel Nabs Wells Fargo Team with $1 Billion AUM | On Wall Street.

Wells Fargo & Co is slashing an approved list of money managers and investment vehicles that its stockbrokers market to the firms wealthy clients, a change of direction that has rattled the third-largest U.S. brokerage network.Executives said the clampdown protects clients from exposure to a plethora of investment models that have received little oversight. It will also reduce the firms risk at a time when litigation and compliance costs are rising industry wide.Money managers affected by the cull range from big names such as JP Morgan Asset Management Inc and Legg Mason to scores of small hedge funds and regional managers. For Legg Mason alone, the number of investment products on the list will shrink to 12 from 56, according to documents reviewed by Reuters.

More:  Exclusive: Wells Fargo cuts approved list of money managers | Reuters.

The new Baird group has about $770 million in client assets, and the new Royal Alliance-affiliated reps have more than $400 million

Early Tuesday, Baird said it recruited a team of seven employee advisors with about $770 million in client assets from Wells Fargo (WFC) in Houston, while Royal Alliance announced that it added two independent teams in Chicago and Salt Lake City with combined assets of more than $400 million and nearly $3.5 million in yearly fees and commissions

More: Recruiting Roundup: Baird Grabs Wells FAs, UBS Branch Manager; Royal Adds 2 Indie Groups.