Recent industry movement and recruitment activity.
Texas broker who spent his 27-year career at Wells and predecessor A.G. Edwards chafed over small-account policies; nine-year NextGen star in Maryland wanted greater marketing and investment-choice freedom.
Two weeks after his surprise departure from a Morgan Stanley Graystone Consulting office near San Francisco, Thane Stenner returns to Canada’s Canaccord Genuity Wealth Management.
Brokers who had spent a combined 65 years at Morgan Stanley and predecessor firms in Philadelphia gravitated to an independent broker and advisory firm in New Jersey managed by their former complex head.
Group in Los Angeles led by John McNamee is at least the third multi-million Merrill team to join the San Francisco bank since August.
Five advisors managing $1.8 billion are the latest to join super-producer Craig Findley at Ohio firm he founded last year after being dismissed for nonclient-related policy violations.
Chip Walker, who Wells Fargo laid off after 28 years as part of a companywide restructuring, is now recruiting for Robert Baird in St. Louis.
James Taylor, a top Next-Gen adviser who Merrill had tapped as 2021 head of its advisors’ “council to management,” took his 13-person team to Morgan Stanley on Friday.
Merrill recruits Wells Fargo manager to fill a void, breaking a years-long recruiting freeze and reliance on a rotating bench of insiders.
High-end Wells’ recruits can pocket 340% of their trailing-12 month production—up from around 325%—if they hit asset growth targets within three years of their arrival.
J.P. Morgan Securities remarkets brokers as “wealth advisors” to distinguish them from bank brokers, carves out a subsector servicing UHNW families and plans to hire 50 advisors annually.