Morgan Stanley Wealth Management has snapped up a three-member team from Merrill Lynch with $1.3 million in production in the firm’s latest acquisition in its hunt for new advisory talent.The team includes Nikesh Kadakia, Joseph Pastore and Kirk Snyder, who moved to Morgan Stanley in El Segundo, Calif., on Feb. 15, according to their public registration records with the Financial Industry Regulatory Authority. Kadakia had been registered with Merrill Lynch for about 13 years, FINRA registration records show, while Pastore had been with the firm for more than 10 years and Snyder served at Merrill Lynch for about three years. The team reports to branch manager David Fahey.

More Info: Morgan Stanley Nabs Three-Advisor Team From Merrill | On Wall Street.

Feb 19 (Reuters) – Top U.S. brokerage Morgan Stanley Wealth Management said on Tuesday it hired a veteran team of advisers in California from rival Merrill Lynch.

Advisers Nikesh Kadakia, Joseph Pastore and Kirk Snyder moved to Morgan Stanley’s El Segundo operation on Friday from Merrill, the brokerage owned by Bank of America Corp. They had an annual revenue production of nearly $1.3 million.

Kadakia and Pastore had been at their old firm for more than a decade. The advisers moved just up the street on Rosecrans Avenue from their old Merrill office to Morgan Stanley’s Manhattan Beach branch, where David Fahey is branch manager.

More Info: ON THE MOVE-Morgan Stanley hires adviser team from Merrill Lynch | Reuters.

HighTower has established itself in the Philadelphia market with the addition of a former Merrill Lynch team with $650 million in assets.

The Sarian Group is the ninth large team the Chicago-based firm has added in the past year and the 36th since its founding in 2008. The two advisors who comprise the group, Gregory C. Sarian and Francis X. Masse II, have 35 years of combined experience and join the firm as partners and managing directors.

According to HighTower’s executive vice president of business development, Mike Papedis, the firm’s advisor-owned was one of the factors in the group’s decision to move.

More info: HighTower Opens First Philadelphia Office With Former Merrill Team | On Wall Street.

Barclays Grabs 16 Advisors

Barclays announced last week that it has hired 16 advisors, or investment representatives for its Wealth and Investment Management division, in seven of its offices across the United States.

“We are pleased to welcome these talented individuals to Barclays,” said Mitch Cox, head of wealth management for Barclays, in a press release. “These hires underscore our commitment to attracting top-performing professionals who seek Barclays’ unique, in-depth approach, of guiding clients to customized solutions that extend far beyond their investment portfolio.”

The newly recruited reps by location are:

In New York, Ramon Hache, Stephen Brazell and Joseph Chung and Steven Guggenheimer moved to Barclays from Deutshe Bank, while Steven Guggenheimer and George Zaki came over from Bank of America-Merrill Lynch. Also coming to Barclays in New York are Jonathan Mann, previously with AllianceBernstein.

In Houston, Don Childress came to Barclays from Goldman Sachs, along with Jeff Collins and Neil Stone.

In Beverly Hills, Calif., Watt Webb was recruited by Barclays from Bank of New York Mellon and Warren Cohn from Bank of America-U.S. Trust. In addition, Adams Morgens joined the Barclays’ Los Angeles office from UnionBanc.

In Boston, Barry Pederson came over to Barclays from Morgan Keegan. Pederson joined the brokerage business in 1993 after 12 seasons with the National Hockey League.

In Chicago, Adam Strauss moved to Barclays from Goldman Sachs.

In Miami, Ileana Platt and Rafael Urquidi joined the wealth group from Credit Suisse.

More Info: Barclays, Morgan Stanley, Raymond James Grab Reps From Rivals.

Raymond James has added a Merrill Lynch duo with almost a million in production to its traditional employee broker/dealer arm.Veteran advisors Jeff Faucette and Tony Williams join in the Huntington, W.Va., office and are the latest in a series of wirehouse teams hired to the firm this year. Raymond James announced in its first quarter earnings report it was continuing to forge ahead in its recruitment efforts after the departure of some lower producing Morgan Keegan advisors caused a slight decline in headcount.

More Info: Raymond James Lures Merrill Team | On Wall Street.

Merrill Lynch has hired four financial advisors overseeing $996 million in client assets from rival firms including Piper Jaffray, Morgan Stanley and Wells Fargo.

Financial advisor Kevin Robertson moved to Merrill Lynch in Portland, Ore., on Jan. 24 from Piper Jaffray, where he spent almost 11 years. Robertson most recently had $588 million in client assets under management and $1 million in fees and commissions.

More Info: Merrill Lynch Nabs 4 Advisors With $996Mv | On Wall Street.

Baird has bolstered its presence in the Southeast with the addition of two former Wells Fargo advisors who will open a new office in Merritt Island, Fla.

The Milwaukee-based firm has brought on Jim Caprara and Chris Hain of The Caprara & Hain Financial Group to help lead the opening of the office, which will operate in conjunction with an existing Baird office in Sarasota, Fla.

The two are legacy A.G. Edwards advisors who moved to Wachovia and then Wells Fargo through a series of mergers in 2007 and 2008, respectively.

More Info: Baird Nabs 2, Opens New Office | On Wall Street.

Switching firms can be an uphill battle. Its never an easy task, no matter what your reasons are for jumping to the firm next door. You can be making the best decision for your clients and your business, but crossing 10,000 ts and dotting 10,000 is can be quite daunting, even for the most astute advisors and their transition teams. Simply said, its not an easy process.Ever since I entered the recruiting business in 1994, there has been talk that FINRA should regulate upfront bonuses or accelerated payouts. But I fear such regulation has never been closer than it is today. With compliance officers running amok with expanded powers and responsibilities, the privacy of the financial advisor is now in jeopardy. Various recruiters have come out to say that it will all be fine. I say, not so fast!If, in fact, FINRA requires disclosure of all checks of more than $50,000, an already complicated matter will become even more complicated. If you have contemplated making a move in the next three years or so, do it now, before regulators turn you and your book into a sitting duck just waiting to be sued by anybody who may be having a down year.

For More: Now May Be the Time to Switch Firms | On Wall Street.