Recent industry movement and recruitment activity.
It also promoted an associate complex manager in Bethesda, Maryland, to manage a large Potomac branch, which has about 20 advisors overseeing over $5 billion in client assets.
NYC broker who was discharged in May over compliance flubs has reunited with former UBS colleagues at their advisory firm Procyon Partners.
Brokers joining Merrill’s Accelerated Growth and Community Markets programs as of September will get a fixed salary for five years, in addition to grid payout, up from a three-year guarantee currently.
A three-decade Merrill veteran who was managing $419 million in assets joined Morgan Stanley in Ohio last Friday as the wirehouse has accelerated hiring.
Merrill solo practitioner with $120 million book joins Wells in Panhandle resort town while Advisor Group pair with $160 million in southwest Florida changes affiliation to LPL.
Father-son team in New Jersey producing $3.5 million go RIA with Dynasty and Texas group with $1.75 million join Wells, but wirehouse lands $4 million Goldman broker in Philly
The continuing flow of experienced brokers out of Merrill Lynch, even during the coronavirus crisis, appears to have driven managers to offer their clients longer and deeper fee waivers than are typical, according to headhunters and competitors.
Morgan Stanley gains Chapel Hill, N.C. team managing $250 million, loses one managing $680 million in the same branch to Stifel, Nicolaus.