January 13, 2015 – Staff, Financial Advisor Magazine – Financial advisor Patrick Yates, along with associates Carole Yates and Donna Calkin have joined the Louisville, Ky., branch of Raymond James & Associates. The team operates as Yates Financial Partners and manages more than $120 million in client assets and has annual production of $1.1 million. Previously affiliated with UBS Financial Services, Patrick Yates also worked at Morgan Stanley, Pruco Securities and The Ohio Company.
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.
January 5, 2015 – By Mason Braswell, InvestmentNews – 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.
December 29, 2014 – By Andrew Welsch, OnWallStreet – 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.
December 11, 2014 – Reuters – 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.
August 14, 2014 – Financial Advisor Magazine – Raymond James Private Client Group has recruited veteran financial advisor Barry Stern in Westlake Village, Calif. Stern comes to Raymond James from UBS Financial Services, where he managed more than $107 million in client assets and had annual fees and commissions of about $1.1 million. Joining him is Kathleen Loretto, serving as client relationship manager. They operate as Ocean West Wealth Strategies Inc.
July 29, 2014 – By Diana Britton, WealthManagement.com – 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.
May 21, 2014 – By Matthias Rieker, The Wall Street Journal – 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.
April 30, 2014 – By Corrie Driebusch, The Wall Street Journal – 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).
March 6, 2014 – 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.
March 7, 2014 – By Paul Golden, FundFire – Wirehouse advisor mobility will increase significantly in 2014 as retention packages expire and the independent route becomes more attractive, according to a FundFire reader poll and expert interviews.
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