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

The Chicago advisors, F. Michael Covey III, Thomas Kane and Mark Wiktor, joined Merrill after producing roughly $10.8 million in annual revenue, according to two sources familiar with the move. The three, all of whom are Lehman Brothers veterans, had been with UBS since 2007, according to their Financial Industry BrokerCheck reports. They were part of UBS’ private wealth unit and join Merrill’s Private Banking and Investment Group, which works with clients who generally have around $10 million or more in as

Source: With Clock Ticking on New Hires, Merrill Lands Jumbo UBS Teams – AdvisorHub

Ex-Morgan Stanley FA Stops Trying to ‘Move Big Boulders’ over ‘Tiny Glacier’By Murray Coleman February 23, 2017After nine years at Morgan Stanley, advisor Todd Sherman left last week to join Raymond James’ employee channel. At the wirehouse, his Mount Laurel, N.J.-based team managed more than $460 million and produced annual revenue of about $5 million. Also taking part in the move are his partners Jason Sobin, Michael Francisco, and Brian Baskin. Over the course of his three decades in wealth management, Sherman has also worked at Merrill Lynch and UBS.

Source: Financial Advisor IQ – Ex-Morgan Stanley FA Stops Trying to ‘Move Big Boulders’ over ‘Tiny Glacier’