Sanctuary Nabs Merrill Vet to Head Quorum NY Office
By Nick Godt, FinancialAdvisor IQ – Sanctuary Nabs Merrill Vet to Head Quorum NY Office
RayJay Exec Says Recruiting Back on Track, Firm Lands $871 Mln-AUM Merrill Team
By Jake Martin, AdvisorHub – Raymond James Financial’s sweetened deals for experienced brokers in its employee division are paying off, even without matching the high-water mark offers of some rivals, Chief Executive Paul Reilly said on Monday.
The St. Petersburg, Florida-based firm’s hiring in 2021 is already “exceeding” targets that it set out at the start of the year, which “weren’t small,” and is ahead of last year’s pace, Reilly said during Morgan Stanley’s virtual U.S. Financials, Payments and CRE Conference on Monday.
Morgan Stanley Hires $4-Mln UBS Private Wealth Team in Chicago
By Mason Braswell, AdvisorHub – Morgan Stanley Wealth Management has hired a four-person private wealth management team generating $4 million in annual revenue at UBS Wealth Management USA in Chicago, according to a person familiar with the move.
Merrill Loses $1.2B AUM Firm to Dynasty
By Asia Martin, WealthManagement.com – Blue Bell, Penn. has a new registered investment advisor in town. Dynasty Financial Partners announced Tuesday it helped a former Merrill Lynch team that managed $1.2 billion in client assets, and generated $6.1 million in revenue, launch Amplius Wealth Advisors.
Merrill Lynch team managing $1.25 billion goes indie
By Investment News – A four-adviser team managing $1.25 billion at Merrill Lynch has left the wirehouse to form Amplius Wealth Advisors in Blue Bell, Pennsylvania. The new firm has affiliated with Dynasty Financial Partners.
$1.25bn Merrill team sets up Philadelphia-area RIA
By Ian Wenik, Citywire – A quartet of ex-Merrill Lynch advisors in Pennsylvania have broken away from the wirehouse to set up their own independent RIA with Dynasty Financial Partners’ assistance. Samuel Liebman, Matt Liebman, Aaron Marks and Patrick Swift have launched Amplius Wealth Advisors in the Philadelphia suburb of Blue Bell. The four advisors bring over four additional support staffers and were previously known as the Liebman Marks Group while at Merrill.
Wire Wars: Morgan Stanley Hires $500 Million-Asset Merrill Team in NJ
By Mason Braswell, AdvisorHub – Morgan Stanley Wealth Management continues to flex its recruiting muscle at the expense of rival Merrill Lynch. Todd C. Gray and Rosa M. Quartuci joined Morgan Stanley on Friday in Red Bank, New Jersey, along with client associate Janyve Almanzar last Friday, according to their BrokerCheck registration records.
UBS Brokers with $15-Mln Production Leave for Rockefeller, RBC and RayJay
By Vicky Ge Huang and Mason Braswell, AdvisorHub – UBS Wealth Management USA this week lost three multi-million dollar teams, including a trio who left on Friday, who were generating a combined $15 million in production. In Houston, Texas, Rockefeller Capital Management on Friday lassoed a three-broker team led by Shay Scruggs, a 19-year industry veteran, that generated $5 million in revenue, according to a person familiar with the move. The group, which includes junior partners Kevin Wright and Trenton Hollas, who have four and five years of experience respectively, oversaw $500 million in client assets, the source said.
Are You Really the One Who’s Driving the Bus?
By Cathy Nichols – For many people, the process of “change” can be difficult. And this is especially true for financial advisors who are thinking about switching firms or models. Surely, those who feel well-served by the status quo should stay put. But what of the advisors who believe that their business and clients may be better served elsewhere, yet allow others (such as a partner or even an assistant) to trap them in a situation that may be less than ideal?
A Running Head Start: What to do when the handwriting is on the wall
By Cathy Nichols – Almost every week seems to bring some stunning change in the financial services industry. Advisors are inundated with both newsworthy headlines as well as rumors from within their own firms: Possible comp changes (even whispers of going salary-bonus at UBS), recruiting retrenchment, and new models being born and poaching top talent from the competition. All this leaves many advisors feeling unsettled and unsure about their futures. While that’s an understandable reaction, more prescient advisors realize that they are actually getting a gift: The gift of time, a running head start, if you will.
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