By AdvisorHub Staff – A five-member Knoxville, Tennessee team this week joined UBS Wealth Management USA, exiting Merrill Lynch, where it produced $3.2 million in annual production on $596 million in client assets, according to a source.
Transition Announcement: First Republic Private Wealth Management Welcomes UBS Advisor Managing Over $900mm
For Max Peckler, this transition was much more about the strong pull towards a better place to serve clients and grow his business—rather than the push away from UBS. While he built an extraordinary business over nearly 2 decades at UBS – landing on the Forbes America’s Top Wealth Advisors list and taking #2 for Best in State of Massachusetts in 2021 – Max felt he hit a ceiling in terms of how he could grow his business and serve clients.
Transition Announcement: Billion-Dollar Team Joins Morgan Stanley Private Wealth Management in Washington, DC
Hammond Han, a 33-year industry veteran, led the Liberty Capitol Group while at UBS. Uncertain about UBS’s long-term vision and commitment to its US wealth management unit, the Liberty Capital Group chose to move to Morgan Stanley to better serve their high net worth client base and run the practice more efficiently.
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.
Mindy Diamond Quoted – By Mason Braswell, AdvisorHub – Morgan Stanley Wealth Management has hired a big Merrill Lynch Private Wealth Management team based in Florida and New Jersey as it adds to the list of multi-million-dollar hires from the rival wirehouse.
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.
Louis Diamond Quoted – By Miriam Rozen, Financial Advisors IQ – Morgan Stanley has told its financial advisors that any client referrals coming from its E*Trade unit will go to a pre-selected set of 500 teams, a source familiar with the matter says.
Louis Diamond Quoted – By Miriam Rozen, Financial Advisor IQ – Morgan Stanley aims to continue aggressively recruiting financial advisors and halt their attrition, according to the bank’s senior executives.
By Mason Braswell, AdvisorHub – Morgan Stanley on Friday landed Merrill Lynch teams managing about $4.4 billion in New York and $400 million in Florida, part of a hiring haul that added dozens of advisors and staff to its national roster ahead of the weekend, according to people familiar with the moves.
By Mindy Diamond – For some time now, the wirehouses have largely been considered persona non grata amongst a large swath of the advisor population. Assuming that there were no real differences amongst them, a majority of advisors who changed firms in the past 5 years opted for almost anything but the biggest brokerages. For example, one industry report states that from 2014–18, nearly $260B in assets left the wirehouses for other platforms.
Recent News & Articles
- Industry Update: Should You Consider a Move When Markets are Turbulent?
- Should FAs Be Tested for Cognitive Decline?
- The Path to Independence: 6 Key Elements to Consider Before Starting Your Journey
- Ex-Merrill ACTM Chair to Independent Business Owner: A Former Insider’s Point of View
- UBS Comp Changes Make It Harder to Battle Asset Outflows–Analysis
Subscribe for Updates
Get updated by email when a new article is added.