Group joining Rockefeller in Irvine had generated $3 million in revenue and follows Rockefeller’s hire last week of a $2.5 million Merrill team in Denver.
In response to competition, Raymond James hikes hiring bonuses, eliminates a longstanding production quota for recruits and will absorb loan balances of deceased advisors.
Robert Runkle left for Morgan Stanley on Friday after 38 years with the Thundering Herd.
Brett Thelander, a career Merrill manager who was running its ‘Mid-America’ private wealth region, will join Rockefeller after a 90-day garden leave, two sources said.
Colorado hire is Rockefeller’s 45th team since its founding while RBC picked up a Merrill broker who said he was frustrated at Merrill’s push to sell Bank of America products.
Group led by Stan Alpert and Gregg Kaufman had overseen $725 million in assets at Morgan Stanley.
Richard Altieri, a Chairman’s Club producer pushed out last week over alleged procedural lapses, has agreed to join Raymond James’ employee branch channel.
The regulator fined and suspended a Lincoln Financial Advisors broker and a former International Assets Advisory broker who started his own registered investment advisory firm for alleged violations of client privacy rules.
Chicago-based registered investment advisory firm Cresset Asset Management opens Texas outpost with hire of Goldman Private Wealth vice president.