March 3, 2020 – By Mason Braswell, AdvisorHub – Two lifetime Merrill Lynch brokers in Alexandria, Virginia, who said they had been generating around $7.5 million in annual revenue have affiliated with Raymond James Financial as independent contractors.
Moves in the News
While not all moves we have helped facilitate are mentioned in the media, here are some moves by financial advisors that did receive recognition.
AdvisorHub Staff – Rockefeller Capital has added two more wirehouse notches to its widening belt, recruiting a $1.5 billion-asset team from Morgan Stanley Private Wealth in New York and a Philadelphia-area team from Merrill Lynch Wealth Management servicing about $500 million of client assets, according to sources.
By Jake Martin, Citywire – Integrated Partners is adding a $100 million Merrill Lynch breakaway that the LPL-affiliated hybrid firm said will push it past $7 billion in brokerage and advisory assets. New Jersey-based advisor Harrison Till, a former Duke University and Ohio State University football player, works primarily with business owners, corporate executives and employee benefit plans. He will adopt the Integrated brand as a newly-minted independent advisor.
By Patrick Donachie, WealthManagement.com – Integrated Partners is welcoming Harrison Till to the organization, the Massachusetts-based hybrid registered investment advisor firm announced at the MarketCounsel Summit in Orlando, Fla. today. Till will join Integrated from Merrill Lynch and will bring along approximately $100 million in brokerage and advisory assets.
By Andrew Welsch, OnWallStreet – Steward Partners hired a former Merrill Lynch team managing $160 million in client assets, the firm said. It’s the latest in a string of hires for the independent firm, which was founded by former wirehouse managers in 2013 and is affiliated with Raymond James. So far this year, Steward Partners has recruited 19 advisors and opened six offices. The Washington, D.C.-based firm now has more than 100 advisors operating from 21 locations.
By Alex Padalka, Financial Advisor IQ – An experienced UBS financial advisor has left the firm to form a new wealth management practice. Anne Johnston has launched Los Angeles-based Created Wealth Advisory to serve multi-generational families, creative professionals and baby boomer women, according to a press release from the company.
By Ian Wenik, Citywire – The $13 billion hybrid RIA has hired Kevin Taube away from the wirehouse to work in its Manchester, N.H. office. Taube had worked for Merrill Lynch since 2006, running a practice that he estimated to be 99% fee-based.
By Andrew Welsch, OnWallStreet – Of 37 advisors RBC hired since Aug. 1, two dozen came from Merrill Lynch, according to the regional BD’s hiring announcements. Those former Merrill advisors, some of whom are industry veterans, managed $2.9 billion, RBC said.
By Alex Padalka, Financial Advisor IQ – RBC made a string of new advisor hires from rivals last week, but the firm must also pay close to $3 million over alleged failures in sending out fund prospectuses. In Scottsdale, Ariz., meanwhile, RBC has added Bill Herf, a 22-year veteran of the industry, the company says in a separate press release. Herf previously managed around $230 million for 150 families and foundations at Stifel Nicolaus, Stifel Financial’s broker-dealer subsidiary, RBC says.
By Alex Padalka, Financial Advisor IQ – Raymond James and RBC Wealth Management both poached brokers from Merrill Lynch this week.
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