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Transition Announcement: $1B Merrill Team Leaves for Regional Firm

Transition Announcement: $1B Merrill Team Leaves for Regional Firm

Stephen J. Groth, Patrick M. Cummings, Robert Chavez and Katrina R. Stump managed $1B in client assets and were all “Merrill lifers” with a collective 73 years of experience at the firm. But changes both at Merrill and throughout the industry landscape prompted the team to proactively perform due diligence, with the goal of determining whether they were best positioned to service their clients in the future.

Merrill Lynch Loses $1 Billion Team To RBC

Merrill Lynch Loses $1 Billion Team To RBC

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.

Stifel hires former UBS, Merrill teams to staff two new offices

Stifel hires former UBS, Merrill teams to staff two new offices

By Andrew Welsch, OnWallStreet – Stifel signed on two teams managing more than $450 million in combined assets to staff two new branch offices, according to the firm, furthering the regional broker-dealer’s aggressive hiring streak in recent months.

Raymond James hires three wirehouse veterans with $487M

Raymond James hires three wirehouse veterans with $487M

By Graison Dangor, OnWallStreet – Raymond James hired three veteran wirehouse advisors with $487 million in combined assets to its employee channel in another victory for its expansion in the Northeast.

RBC snatches $250M advisor from Merrill Lynch

RBC snatches $250M advisor from Merrill Lynch

By Lavanya Nair, Financial Advisor IQ – RBC Wealth Management hired an advisor from Merrill Lynch who oversaw $250 million in client assets, according to the company.Joining the Florham Park office in New Jersey, veteran advisor David Hollenberg has 24 years of experience in the financial services industry. He spent the entirety of his career at Merrill Lynch, according to FINRA BrokerCheck records.

UBS loses $300M team to Stifel as wirehouse exodus accelerates

UBS loses $300M team to Stifel as wirehouse exodus accelerates

By Amanda Schiavo, OnWallStreet – Last week, Stifel picked up an advisor managing nearly $300 million from Janney Montgomery Scott. The newest hires, advisors Ken Miller and husband-and-wife duo Tony and Bianca Urdes, joined the regional brokerage firm in Portland, Oregon. The team’s clients include early stage investors and ultrahigh-net-worth individuals.

$370M Team Leaves Merrill For Stifel

$370M Team Leaves Merrill For Stifel

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.

Regional Firms Are Killing It On The Recruiting Front…Why?

Regional Firms Are Killing It On The Recruiting Front…Why?

By Mindy Diamond – As we wrapped up at the Raymond James Recruiting Partners Forum held at their corporate headquarters in St. Petersburg, FL on November 22, I found myself considering what accounts for the firm’s extraordinary success in recruiting. RayJay reports that 2014 has been the second best recruiting year in its history (second only to the outlier year of 2008-2009 when all firms saw huge increases in their recruiting numbers).

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