Wells Recruits $3.5-Mln UBS Family Team, Million-Dollar RBC Producer
May 18, 2020
By Vicky Ge Huang
Some of the brokerage industry’s most aggressive recruiters illustrated in the past week that their transition teams continue to operate during the pandemic as part of their broader business continuity plans.
Wells Fargo Advisors, which was boasting in the weeks before the pandemic that its generous deals were attracting advisors from wirehouses and regionals alike, emerged from the shelter-in-place slowdown last week with a family team from UBS’s private wealth group in Pennsylvania and with a solo practitioner from RBC Wealth Management in New Jersey.
The UBS emigrants are Grant Minor, a 35-year brokerage veteran, who joined Wells Fargo Advisors’ Canonsburg, Pa., branch with his sons Ben and William and two client associates on May 15. They had been generating $3.5 million in trailing-12 production at UBS on about $700 million in assets for clients in the firm’s private wealth unit for high-net-worth investors, according to a Wells Fargo spokeswoman.