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Independent firm Snowden Lane Partners recruited another wirehouse advisor team, this time from Merrill Lynch.
A Wells Fargo advisor team that managed $200 million in assets has left to join Steward Partners, an independent firm founded a year ago by former wirehouse managers.
Morgan Stanley Wealth Management saw profits jump 17% for the 3rd quarter, despite a 1% drop in the firm's advisor workforce.
Deutsche Asset & Wealth Management lured away a managing director from J.P. Morgan.
Waddell & Reed picked up an advisor from rival Edward Jones.
Bank of America said wealth management profits were up 13% year-over-year and reported an increase in its advisor ranks. The company reported that profits for its Global Wealth & Investment Management division, or GWIM, which includes Merrill Lynch and U.S. Trust, increased to $813 million for the third quarter from $720 million a year ago. …
Wells Fargo said that third quarter net income for its wealth management division rose 22% year-over-year.
A Morgan Stanley advisor duo with $213 million in AUM has left the wirehouse to join RBC Wealth Management.
Deutsche Asset & Wealth Management hired a new regional executive from J.P. Morgan.
An advisor team with $400 million in client assets has left Wells Fargo to go independent with the help of Dynasty Financial Partners.
A UBS advisor managing $108 million in assets has left the wirehouse to join rival firm Merrill Lynch.
Morgan Stanley picked up five advisors managing more than $650 million in combined assets from its rivals, according to a spokesperson for the wirehouse.
Raymond James & Associates recruited a wirehouse advisor who generated over $1 million in revenue, managing more than $120 million in assets.
Wunderlich Securities is growing, picking up Dominick & Dominick, a New York-based brokerage firm with a long history on Wall Street.
D.A. Davidson Companies announced that Jim Kerr would replace Bill Johnstone as CEO effective January 2015.
A wirehouse advisor team managing about $400 million in assets has left UBS to join Snowden Lane Partners, an independent firm.
Four Wells Fargo advisors have left the wirehouse to join Benjamin Edwards, opening the regional broker-dealer's 49th office.
Wealth management firms look to grow the bottom line out West. "Everybody is trying to get bigger in the marketplace. And those who aren't present here want to enhance their presence," says Bill Willis, a Los Angeles-based recruiter.