Bank of America
Twenty-nine year Merrill veteran in Scranton moved family team producing $4.2 million to Wells, and eight-person team overseeing $540 million in Minocqua, Wis. joined RBC (which also hired two Merrill teams in northern California).
Shifts of veteran managers to run crucial markets appears to be accelerating in a sign of contracting bench talent.
Brokers managing $440 million in client assets joined UBS last week, two days after it hired an East Coast Merrill veteran managing $391 million.
Team said to be managing about $440 million is the second to leave Merrill’s Buckhead branch for RBC this summer.
Class-action filing seeks damages for Merrill brokerage and Merrill Edge customers whose cash was moved into low-interest bank accounts.
Barred advisor who styled himself as a philanthropist stole from three customers who have collected $5.6 million from Merrill in reimbursement and damages.
Patrick Dwyer, the $10-million-plus producer who “resigned” on Tuesday, was careful to obey all laws before making a $25,000 contribution to a Florida official, according to his lawyer.
Private Wealth advisor whose Miami team is believed to have generated more than $10 million of annual revenue on $3.7 billion of client assets reportedly made unapproved political contribution to clean up his public regulatory record.
Slots two veteran field leaders into new complex roles in Texas Mountain division and hires experienced broker for branch that is part of new “community markets” business unit.
Three-million-dollar producers who spent their careers with the Thundering Herd wanted to stay with a wirehouse, while more junior team starts independent advisory practice.