Transition Announcement: $850mm UBS advisor Breaks Away For Independence. Top Advisor Barry Mitchell launches RIA Next Level Private.
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. Or browse an at-a-glance sample of representative deals…
By Sabrina Escobar, Barron’s – An eight-person advisor team managing $1 billion in client assets became the latest to break away from the thundering herd, joining RBC Wealth Management’s Pacific Northwest complex. The team, which calls itself Inter Alia, is composed of advisors Stephen Groth, Patrick Cummings, Robert Chavez, and Katrina Stump, and client associates Susan Junell, Mimi Jue, Deborah Jenkins, and Rachel Akerson.
By AdvisorHub Staff – Four career Merrill Lynch brokers who had spent a total of 73 years at the “thundering herd” left on Friday for RBC Wealth Management-U.S. in Portland, Oregon, punctuating ongoing attrition at the wirehouse.
By Justin Berman, Think Advisor – An eight-person, Harrison, New York-based advisory firm with $850 million in assets under management has broken away from UBS to become an independent RIA.
By Joyce Blay, Financial Advisor Magazine – Financial advisor Barry Mitchell has launched Next Level Private, an independent registered investment advisor (RIA) in Harrison, N.Y., with $850 million in client assets, according to a news release.
By Andrew Welsch, Barron’s – A top-ranked UBS financial advisor and his team, which oversaw $850 million in client assets, have left the wirehouse to open an independent firm, prompted to do so because of increasing client demand for fiduciary-level advice, the advisor says.
By Jacqueline Sergeant, Financial Advisor Magazine – A longtime Merrill Lynch father-son team with $500 million in assets has left to join RBC Wealth Management in Chicago, according to a news release.
By Miriam Rozen, AdvisorHub – RBC Wealth Management on Thursday nabbed a Chicago-area Merrill Lynch Wealth Management father-son team that managed more than $500 million in client assets, according to an RBC spokesperson.
By Investment News – Kyle Smith and Michael Sandlin, who managed $740 million at Truist Investment Services in Raleigh, North Carolina, have joined Linsco, the employee channel of LPL Financial.
By Jake Martin, AdvisorHub – Wells Fargo Advisors on Wednesday pulled from UBS Wealth Management USA a 10-person team that had been generating $7 million in annual revenue at the wirehouse, a spokeswoman for Wells confirmed.
Recent News & Articles
- Trendspotter: Wirehouse Rep Decline Shows No Signs of Stopping
- Why a $5B UBS Breakaway Team Set Out to Build the “Boutique Firm of the Future”
- The 7 Most Common Concerns that Keep Advisors Up at Night
- Industry Guru Bob Veres on Achieving Excellence and Building the Advisory Firm of the Future
- RayJay FA Comp Plan Unchanged for Fourth Straight Year
Subscribe for Updates
Get updated by email when a new article is added.
Please note that all requests are handled with complete discretion and confidentiality.