Moves in the News

We are pleased to provide a sampling of press releases which serve as examples of the financial advisors with whom we have worked. They illustrate the unique opportunities that advisors turn to us to identify in an effort to find a firm or practice model that will enable them to better service their clients, grow faster and/or monetize their businesses. For further insights and to learn more about what went into each advisor’s decision making, please contact us. We are happy to speak with you– always without obligation.

Mergers & Acquisitions

David Yucius of Aurora Investment Counsel

December 11, 2014-Reuters-ON THE MOVE-Lebenthal lands adviser, equity manager-On Monday, Lebenthal Asset Management announced it acquired Aurora Investment Counsel, an Atlanta-based equity manager run by independent adviser David Yucius which oversees $250 million in client assets for foundations, endowments and corporations. Read more…  

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Move to a boutique firm

George Lucciani and Annie Stiles of the Capital Planning Advisory Group

July 27, 2014 – WealthManagement.com – Cantor Fitzgerald Acquires $120 Million RIA –  New York-based Cantor Fitzgerald Wealth Partners has acquired Capital Planning Advisory Group, a Yardley, Pa.-based RIA and the sixth team to join Cantor’s wealth management business since the launch of that division last September. The team manages about $120 million in assets, according to Meridian-IQ. The acquisition brings Cantor Fitzgerald’s wealth management division to just over $3 billion in assets. Read more

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The Team of Kevin Baker & Daniel Sullivan

Feb 27, 2014 – Reuters – ON THE MOVE – J.P. Morgan Chase & Co’s wealth management unit said it hired a team of 6 veteran advisers from UBS, Merrill Lynch and Bernstein Global Wealth Management to expand the firm’s presence in Atlanta, New York and Seattle. The advisers together managed about $1.2 billion in client assets at their previous firms. Roland Pritchett and Matt Stucke will join J.P. Morgan Securities’ Atlanta office from UBS. They will report to regional director Pete Secret. Darren Graff and Natalya Muravchik will join the New York office from Merrill Lynch. They will report […]

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Move to a regional firm

$370M Team Leaves Merrill For Stifel

October 1, 2015 By Ralph Ortega A team that managed $370 million in client assets at Merrill Lynch has left the wirehouse to join Stifel, a spokeswoman for the firm said. Sonny Skinner, Mark Causey, Everett Nix, Steve Hagood and Will Humber left Merrill to open a new office for Stifel’s private client group in Tuscaloosa, Ala. Skinner also serves as a branch manager. Read more…

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$120M UBS Advisor Duo Joins Aegis

February 18, 2015 By Maddy Perkins Two former UBS advisors managing over $120 million in client assets have moved to Aegis Capital. Brother and sister advisors Jorge and Teresa Bravo left the wirehouse to join the New York-based independent broker-dealer, according to a statement from the firm. The team will work from a new branch office in Puerto Rico. Read more…  

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Patrick Yates, Carole Yates and Donna Calkin of Yates Financial Partners

Sept. 2014 Raymond James welcomes Patrick Yates, along with associates Carole Yates and Donna Calkin Raymond James has hired veteran financial advisor Patrick Yates, along with associates Carole Yates and Donna Calkin, to join the Louisville, Kentucky, branch of Raymond James & Associates (RJA), the traditional employee broker/dealer of Raymond James Financial, Inc. (NYSE-RJF), according to Van Thompson, southern regional director for RJA. The team operates as Yates Financial Partners of Raymond James. “Patrick’s genuine care for his clients and proven dedication to helping them meet their financial goals are qualities we value here at Raymond James,” said Thompson. “We […]

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Gene Marx and Catherine Hunter of Marx Wealth Management

March 6, 2014 RAYMOND JAMES WELCOMES $1.9 MILLION TEAM FROM UBS FINANCIAL SERVICES IN CHARLOTTE, N.C. ST. PETERSBURG, Fla. – Raymond James recently recruited Gene Marx, senior vice president, investments, and Catherine Hunter, CERTIFIED FINANCIAL PLANNER™ and financial advisor, in Charlotte, N.C., according to Ed Ferguson, Charlotte branch manager at Raymond James & Associates (RJA) – the traditional employee broker/dealer of Raymond James Financial, Inc. (NYSE-RJF). The team operates as Marx Wealth Management of Raymond James. “I am pleased to welcome Gene and Catherine to Raymond James,” said Ferguson. “They are an exceptional team, bringing years of experience and a proven track record […]

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Thomas Dedrick and Pam Franklin of the Dedrick-Franklin Group

February 22, 2014 RAYMOND JAMES RECRUITS $1 MILLION TEAM FROM MERRILL LYNCH IN TUSCALOOSAST. PETERSBURG, Fla. – Raymond James recently recruited the veteran team of Thomas Dedrick, CFP® and Pam Franklin, CRPC® to join the Tuscaloosa, Ala. office of Raymond James & Associates (RJA) ─ the traditional employee broker/dealer of Raymond James Financial, Inc. (NYSE-RJF) ─ according to Tash Elwyn, president of RJA’s Private Client Group. They will do business as the Dedrick-Franklin Group.“We are delighted to welcome the Dedrick-Franklin team to Raymond James,” said Elwyn. “Both Thomas and Pam have distinguished themselves over the years as outstanding financial advisors with […]

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Move to a wirehouse

Merrill Lynch nabs $1B team from UBS

June 2, 2017 By Sarah Martinson Despite a planned recruiting slowdown, Merrill Lynch continues to land new teams. The firm’s newest hires, who oversaw $1 billion team in client assets, come from rival UBS and follow on the heels of an equally large hire. Advisers Joseph Gabriele and Paul Vasady-Kovacs joined Merrill Lynch’s New York office, the firm said. While at UBS, they generated $7 million in annual revenue, according to Merrill. Read more…

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Barclays Advisor with $960M AUM Joins Morgan Stanley

November 17, 2015 By Andrew Welsch Former Barclays advisor James Fitzgerald joined Morgan in New York. While at the British firm he generated more than $1 million in annual production and oversaw $960 million in client assets, according to Morgan. He reports to Complex Manager Ben Firestein. Fitzgerald started his career at Lehman Brothers in 2004, which was later acquired by Barclays. Read more…

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$320M Advisor Joins UBS from Credit Suisse

November 10, 2015 By Andrew Welsch A fifth advisor moving to UBS, Mark Hutchinson, joined the firm’s Chicago office from Credit Suisse. Hutchinson oversaw $320 million in client assets and had an annual production of $2.23 million while at the firm, according to the UBS. Hutchinson will report to UBS’ Chicago private wealth management market head Mike Gatewood, and focus on ultrahigh-net worth clients. Hutchinson began his career with Lehman Brothers 25 years ago. He had been with Morgan for 10 years. Moving with Hutchinson is Sean Moran, a senior wealth strategy associate. Read more…

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Morgan Grabs $3.3M Producer From UBS

On Wall Street

July 6, 2015 By Shreya Agarwal Morgan Stanley clinched a $3.3 million producer from rival UBS. Marc Kessler managed client assets worth $658 million while at UBS before making the move, according to On Wall Street’s Top 40 Under 40 rankings.  Kessler was featured as No. 27 on the original ranking, based on production figures. A second ranking, according to AUM, dropped him to No. 16. Read more…    

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Morgan Stanley nabs $6.5B Merrill Lynch private wealth team

Investment News

January 5, 2015 By Mason Braswell Morgan Stanley Wealth Management has kicked off the recruiting year with the high profile hire of a trio of elite Bank of America Merrill Lynch advisers in Chicago. Veteran Merrill advisers Linda J. Stephans, Kristina Van Liew and Erik Oiler, who led a team of nine as part of Merrill Lynch’s Private Banking and Investment Group, a specialized unit for around 150 teams working with ultra-wealthy clients, jumped to Morgan Stanley on Friday, according to registration records with the Securities and Exchange Commission. Read more…  

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Brian Bogart, Adam Giles & Peter Knoer of the Bogart Group

On Wall Street

December 29, 2014 By Andrew Welsch A team producing $4.2 million has joined Morgan Stanley. The team, known as the Bogart Group, left RBC Wealth Management-U.S. to join Morgan in McLean, Va., last month, a firm spokeswoman said. The group had been managing $622 million in assets while at RBC. Read more…  

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$4.5B Team Jumps to Morgan in Latest ‘Coup’

On Wall Street

September 18, 2014 Mindy Diamond Quoted By SULEMAN DIN Morgan Stanley has grabbed its second multi-billion-dollar team from Merrill Lynch in less than a month. Morgan lured the Brice Group with $4.5 billion in assets away from Merrill, according to a released statement. The Brice Group, based in Birmingham, Mich., and helmed by brothers Brian P. Brice and Timothy M. Brice, made the move under advisement from Diamond Consultants. Both had nearly $8 million in combined production while at Merrill. Earlier this month, Morgan plucked another multi-billion-dollar team from Merrill: Advisors Michael Torpey and Charles Malamut, who joined Morgan’s Northfield, […]

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Robert Iocco & Francis Ciocari

The Wall Street Journal

April 8, 2013 –  By Corrie Driebusch STREET MOVES: 4 Broker Teams Join Morgan Stanley from Rivals NEW YORK–Four teams of brokers managing more than $765 million combined in client assets joined the wealth management arm of Morgan Stanley (MS) on Friday from Bank of America Corp. (BAC), J.P. Morgan Chase & Co. (JPM) and Wells Fargo & Co. (WFC). Gaston Abello and Felix Jaimovich moved from Bank of America’s Merrill Lynch brokerage and now work out of the Aventura, Fla., Morgan Stanley Wealth Management office. The pair generate roughly $2.1 million in production annually on $165 million in client […]

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Move to independence

$150M UBS team goes indie with Raymond James

On Wall Street

July 12, 2016 By Andrew Welsch A UBS team that managed about $150 million has gone independent with Raymond James, according to the firm. The newly independent firm, named Great Lakes Wealth, became affiliated with Raymond James Investment Advisors Division, which provides custodial and support services to RIAs. Great Lakes Wealth is led by managing partners Dewey Steffen and Michael P. Hartman, who serve as CEO and COO respectively. Also moving with the team is Carmela Eastin, director of operations. They are based in Northville, Mich., a suburb of Detroit. Read more…

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$125M UBS Team Joins HighTower

On Wall Street

April 18, 2016 By Nicholas Yeap UBS advisors, who oversaw $125 million in client assets, have left the wirehouse to launch a practice with HighTower, says the firm’s spokewoman. Chris Ure and Al Martinez joined HighTower as managing directors in Boca Raton, Fla. The team is High Tower’s third this year and second in Florida, according to the firm. “We selected HighTower for their commitment to growth, dedication to clients, and for the opportunity to leverage their unmatched expertise and resources on behalf of our business and our clients,” Ure said in a statement. Read more…

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D.B. Root & Co. Goes Independent

October 8, 2015 As reported on ThinkAdvisor Advisory firm D.B. Root & Co. went the independent route, leaving behind Commonwealth Financial Network and joining Dynasty Financial Partners. Charles Stout, senior advisor; David Hoffmann, vice president; Steve Kohler, senior financial advisor; Michael Aroesty, financial advisor; Lynn Hoffay, CPA; and nine support staff members also joined from Commonwealth. D.B. Root is based in Pittsburgh and has client assets of more than $650 million. Read more…    

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Group of Merrill Advisers Leaves to Form Florida Firm Offering Specialized Services

The Wall Street Journal

September 8, 2015 Mindy Diamond Quoted By Michael Wursthorn A team of Merrill Lynch financial advisers who manage more than $1 billion resigned on Tuesday to form an independent advisory firm to offer more specialized services to clients, such as paying bills and providing advice on custom-designed investments. Brokerage recruiter Mindy Diamond said the ability for advisers to offer family services is a big reason for teams to go independent. “A lot of advisers are looking for more ways to differentiate themselves,” said Ms. Diamond, president of Morristown, N.J.-based Diamond Consultants Inc. “In order to do so, they need to […]

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King Financial Network Joins Commonwealth

Financial Planning

May 18, 2015 By Andrew Shilling An independent financial advisory firm with more than $108 million in client assets has joined Commonwealth Financial Network, the firm said. James F. King, Jr., and his team at the Manalapan, N.J.-based King Financial Network made the move to the privately held independent broker/dealer, Commonwealth Financial said.  Read more…    

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Dennis Barba joins Wells Fargo FiNet

FUNDfire

May 8, 2015 By Michael Shagrin Dennis Barba joins Wells Fargo Advisors Financial Network (FiNet) from UBS with $175 million in client assets. His independent practice will have offices in both Beachwood, Ohio and New York City. Before joining FiNet this month, he spent the previous six years with the UBS. Prior to that, he spent five years at Raymond James, according to Financial Industry Regulatory Authority (FINRA) records. Earlier in his career, he had stints at Prudential, A.G. Edwards and Smith Barney. Read more…

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Barry Stern, CIMA® & Kathleen Loretto of Ocean West Wealth Strategies

June 16, 2014 RAYMOND JAMES WELCOMES $1.1 MILLION ADVISOR FROM UBS IN WESTLAKE VILLAGE, CALIFORNIA ST. PETERSBURG, Fla. – Continuing Raymond James Private Client Group’s westward expansion, the firm welcomed veteran financial advisor Barry Stern, CIMA®, to Raymond James Financial Services (RJFS), the firm’s independent broker/dealer, in Westlake Village, California, according to Bill Counsman, regional director for the RJFS Western region. “It’s a pleasure to welcome Barry to Raymond James and our network of independent advisors,” said Counsman. “For some advisors, going independent is the best choice, and welcoming an advisor such as Barry is a testament to the broad platform […]

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Herman Rij with partners Jason Cort, Brian Cort and Kori Lannon of Quadrant Private Wealth

The Wall Street Journal

May 21, 2014 By Matthias Rieker More Brokers Break Away to Form Independent Firms Trend Is Reshaping Industry, Eroding Dominance of Wall Street. On a Friday in early May, financial adviser Herman Rij put on his Merrill Lynch tie—pink, with light blue bulls—and went to work at the brokerage’s third-floor office in Bethlehem, Pa. He met with a client who had flown in from Arizona. Then he went in to see his boss—and resigned. Merrill Lynch had no advance notice, but there was nothing sudden about the move. Over the past half year, Mr. Rij and his team at Merrill—daughter […]

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Jonathan Blau & Harvey Radler of Fusion Family Wealth

RIA Biz Financial Advisor News

November 13, 2013 by Brooke Southall Dynasty Financial leads a second $1 billion-range team — now Fidelity RIA — out of Wall Street in as many weeks Fusion Family Wealth LLC presumed the economics of buying top research wasn’t there — but was shown otherwise Brooke’s Note: Dynasty Financial was quiet, very quiet, for months on end. But now it has started to rack up wins, big, exotic ones, with a vengeance. More impressive is that in each case, the newly minted RIA principals named Dynasty as a key missing piece in emerging from the wirehouse womb. This Blau departure […]

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James Maher of Archford Capital Strategies

RIA Biz Financial Advisor News

April 2, 2013 by Brooke Southall  Merrill Lynch team breaks away from Bank of America (yes, ironically) to get better access to bankers James Maher is forming Archford Capital Strategies as a wealth manager that needs capital galore to unlock his clients’ billions in assets from illiquidity The Maher Group had about as good a long-term business plan as you could ask for — — on paper. The former Merrill Lynch team had eight individuals, some with legal or accounting degrees or CFA credentials. Better yet, it had established a niche over the past decade of serving business owners with […]

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Tim Kneen & Clayton Hartman of IFM Capital Advisors

February 6, 2014 – $1 Billion Advisor Team Ditches Wirehouse For The Independent Life Mindy Diamond, Contributor Meet Tim Kneen and Clayton Hartman just once and you would know that they were never meant to be wirehouse advisors. This billion dollar Colorado based duo, generating almost $8 million in annual revenue, with combined industry experience of not quite six decades left UBS in mid-January to form their own wealth management firm. It was the shot heard around the industry. Such a high profile move will always attract attention, but when a team like Tim and Clayton’s goes independent, it is […]

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Robert A. Leggett, James B. Tharin, Clint W. Sorenson of Emerald Asset Management

December 17, 2013 RAYMOND JAMES WELCOMES A NEW RIA FIRM IN CARY, N.C. AFFILIATES WITH RAYMOND JAMES INVESTMENT ADVISOR DIVISION (IAD) ST. PETERSBURG, Fla. – Bill Van Law, president of Raymond James Investment Advisors Division (IAD) announced the formation and affiliation of Emerald Asset Management, an independent investment advisory firm based in North Carolina. The firm, which maintains offices in Cary and Rocky Mount, N.C. comprises founding managing partners, Robert A. Leggett, CFA®, CFP®, J.D., James B. Tharin, CFA®, and Clint W. Sorenson, CFA®, CMT®, as well as director of operations Grier Rubeling and operations manager Lisa Ingram. “Welcoming Robert, James, Clint […]

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Move to quasi-independence

HighTower Adds First Minneapolis-based Team: DSG Wealth Management

May 10, 2016 HighTower announces that DSG Wealth Management has joined the HighTower community. Based in Minneapolis, Minn., the team oversees approximately $315 million in assets. Managing Director and Partner Denver Gilliand leads the team, which was previously with Merrill Lynch’s Private Banking and Investment Group, and also includes Senior Client Wealth Associate Kayleen Schultz and Client Wealth Associate Kari Jadwin. Read more…

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HighTower Snags Advisors With $150M in AUM

On Wall Street

August 31, 2015 By Andrew Shilling HighTower has acquired two LPL Financial advisors with $150 million in combined client assets. Managing director and now partner Melissa Duffy has joined the firm with advisor Paige Todorich at Portland, Maine-based Simmons Wilkes Investment Advisors. That brings the group’s total corporate, family and individual assets to nearly $650 million, according to the firm. Read more…

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Former UBS advisor Michelle Murray moves to HighTower

Think Advisor

July 28, 2015 Where Are the Departing UBS Reps Going? In mid-July, HighTower said former UBS advisor Michelle Murray had moved her team, which manages $200 million in assets, to the partnership. “Michelle’s expertise, professionalism and dedication to her clients make her a natural fit for HighTower,” said Michael Parker, national director of Enterprise Development at HighTower, in a statement. “She joins an exclusive group of advisors that includes some of the most accomplished women in the financial services profession.” Murray began her career in financial services in 1989 with Shearson Lehman/Smith Barney, moving to UBS in 2004. Read more…

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UBS Advisor With $200M Joins HighTower

July 16, 2015 by Rajashree Chakravarty An advisor who managed $200 million in client assets left UBS to go independent with HighTower, a spokesman said. Advisor Michelle Murray formed Murray Wealth Management in Seattle. The move represented HighTower’s eighth transition this year and its 14th office on the West Coast, according to the spokesman. Read more…

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George Lucciani and Annie Stiles of the Capital Planning Advisory Group

July 27, 2014 – WealthManagement.com – Cantor Fitzgerald Acquires $120 Million RIA –  New York-based Cantor Fitzgerald Wealth Partners has acquired Capital Planning Advisory Group, a Yardley, Pa.-based RIA and the sixth team to join Cantor’s wealth management business since the launch of that division last September. The team manages about $120 million in assets, according to Meridian-IQ. The acquisition brings Cantor Fitzgerald’s wealth management division to just over $3 billion in assets. Read more

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Mark Kravietz of MK Wealth Management

Think Advisor

March 25, 2013 HighTower, UBS Veteran Join in New York Partnership Melville, N.Y.-based MK Wealth Management will receive support from HighTower’s newly formed partner development team MK Wealth’s partnership is the 10th for HighTower in the last year. HighTower announced Monday that MK Wealth Management, an advisory team on Long Island, is joining the partnership, representing the 10th time in the past year that a new team has joined the Chicago-based independent advisor-owned financial services firm. Thirty-seven teams have joined the HighTower partnership since its 2007 inception. MK Wealth Management’s principal, Mark Kravietz, is a longtime veteran of the financial […]

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Laurie Kamhi of LCK Wealth Management

November 25, 2013 —CHICAGO, IL —HIGHTOWER GROWS NEW YORK HEADQUARTERS WITH LCK WEALTH MANAGEMENT HighTower, the nation’s destination of choice for entrepreneurial advisors seeking greater independence and practice control, announces the transition of LCK Wealth Management to the HighTower partnership. This is the third advisor team HighTower has transitioned in as many weeks. “This past month has given us an unprecedented opportunity to expand our partnership with some of the country’s most talented advisors,” said Michael LaMena, President of HighTower. “Laurie’s team combines the dedication to client service and adherence to accountability that define the HighTower brand, and we welcome […]

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Charles Andriole, Geoffrey Gregory, Robert Deluca, Matthew Montana of the Andriole Group

HIGHTOWER EXPANDS INTO CONNECTICUT WITH THE ANDRIOLE GROUP CHICAGO, IL — November 18, 2013 — HighTower, the nation’s destination of choice for entrepreneurial advisors seeking greater independence and practice control, announces the addition of The Andriole Group to the HighTower partnership. This is the second advisor team transition HighTower has completed in the past two weeks. The Andriole Group manages $700 million in client assets, and  offers  broad  capabilities  to deliver customized financial strategies for high-net-worth individuals and families, as well as their related businesses and select non-profit organizations. Founder Charles Andriole, CPM®, CIMA®, along with the firm’s other principals […]

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Greg Sarian & Frank Masse II of The Sarian Group

Investment News

Feb 21, 2013 By Andrew Osterland HighTower back in the market with big Merrill team addition after Q4 hiatus, firm adds Philly area team managing $650M in assets After a fourth-quarter hiatus from adding new adviser teams, HighTower Advisors LLC is back in the market. The private-equity-backed partnership of advisory practices Tuesday announced the addition of its largest team of advisers in the past six months, signing on the Sarian Group — a pair of Bank of America Merrill Lynch advisers managing $650 million in assets. “This is a top-performing team in the Philadelphia market and we’re thrilled to have […]

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Ed Simmons, Gibson Wilkes, Blake Wilkes & Michael Simmons of Simmons Wilkes Investment Advisors

February 24, 2011 Merrill Lynch And BofA Tension May Spin Out Long-Awaited Round Of Breakaways By Elizabeth MacBride A seven-person advisory team managing $550 million broke away from Merrill Lynch in Portland, Maine, to join HighTower Advisors on Friday. The team, Simmons Wilkes Investment Advisors, extends HighTower’s reach to the largest city Down East. The advisors declined to be interviewed. HighTower says they are too busy setting up shop to take phone calls. HighTower’s CEO said the Simmons Wilkes breakaway was evidence that a long-predicted surge of Merrill breakaways after the wirehouse’s acquisition by Bank of America might finally be […]

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