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.
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 Andrew Welsch, OnWallStreet – 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.
By Andrew Welsch, OnWallStreet – 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.
By Marlene Y. Satter, 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.
By Ralph Ortega, OnWallStreet – 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.
Mindy Diamond Quoted – By Michael Wursthorn, The Wall Street Journal – 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.
By Andrew Shilling, OnWallStreet – 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.
By Janet Levaux, ThinkAdvisor – In mid-July, HighTower said former UBS advisor Michelle Murray had moved her team, which manages $200 million in assets, to the partnership.
by Rajashree Chakravarty, OnWallStreet – 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.
By Shreya Agarwal, OnWallStreet – 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.
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