Recent industry movement and recruitment activity.
Wells’ payout penalties on lower-net worth accounts didn’t mesh with West Virginia brokers’ small-town client base.
J.P. Morgan Securities emigrees to RBC have 89 years of experience and a big book of music and entertainment clients, while its new arrivals had been with Morgan Stanley and predecessors for 87 years.
Minneapolis-based Ameriprise recruits southern Florida advisor with 23 years of experience to its employee channel and 17-year San Francisco broker to its independent arm.
Arrival of 34-year veteran continues a slew of pandemic-era hiring that yielded RBC third-quarter recruits whose production was 112% higher than those who arrived in the year-ago quarter.
Robert Stoker, who built a $750 million book over a 22-year Sanford Bernstein career, is at least the fourth large producer to leave this year for UBS.
Janney says new hire in Virginia was managing $300 million at Merrill, while RayJay says its Michigan recruit managing $115 million at Morgan Stanley moved for the “freedom to truly own and run my practice.”
Billion-dollar-asset J.P. Morgan Private team in Atlanta to become UBS advisors, while $150-million father-son team of UBS/PaineWebber lifers join J.P. Morgan Securities in New Jersey.