Ameriprise hires two advisors in Tampa who managed $338 million at Morgan Stanley and RayJay gets most of a $1 billion team in Allentown who spent most of their careers with Merrill.
John Gelbach, one of many former officials seeking to recoup crisis-era losses in Merrill stock, was a sophisticated investor “quite capable of assessing the regulatory and other risks…after the dramatic events of the 2008 litigation involving subprime mortgages,” arbitrators rule.
Vince Ferittta has signed up with Sanctuary Wealth, run by another former Merrill regional manager, to recruit brokers in the southwest.
Bruce Tenenbaum, who was overseeing some $1 billion in customer assets at UBS, is first broker hired by Greg Fleming’s firm on the West Coast.
The shift from quarterly billing early next year aims to reduce customer sticker shock in volatile periods, company tells advisors.
Heather Gifford, a former head of training at UBS and most recently Northeast division sales manager, expected to join rival wirehouse after a garden leave.
Most popular stories from 5/5 – 5/10.
“I didn’t leave Merrill Lynch,” New Jersey advisor says. “I left Bank of America.”
After almost 25 years with the Thundering Herd, advisor managing $450 million sets up independent shop through Dynasty Financial Partners.
Merrill duo managing almost $1 billion after a combined 50 years jumps to UBS, which consolidated some of its large-market branch management this week.