Merrill Lynch picked up a Morgan Stanley team that generated $2.5 million in annual revenues, a spokeswoman said.
Advisors Stephen J. Renie, Michael S. Arthur and Jennifer S. Hall joined Merrill in Cincinnati where they report to Market Executive John R. Nicholson. While at Morgan, the advisors oversaw more than $300 million in client assets.
Meanwhile, Morgan picked up more advisors from Barclays, a spokeswoman confirmed. In Los Angeles, former Barclays advisors Dana Jacobs and Alan Vorwald switched to the wirehouse. A Morgan spokeswoman declined to provide their AUM or production figures.
Jacobs is a 25-year industry veteran, according to FINRA BrokerCheck records. She and Vorwald joined Barclays in 2010 from HSBC Securities.
Barclays has lost several advisors to wirehouse rivals since announcing a deal to sell its wealth management operations to Stifel. So far Merrill has emerged the biggest winner of that recruiting frenzy.
Among the new recruits joining from Morgan, Renie returns to Merrill, where he previously worked from 1992 to 1995. He began his career in 1990 at Dean Witter, and has done stints at UBS and Smith Barney, according to BrokerCheck.
Arthur joined Smith Barney in 1997, staying through the firm's merger with Morgan. Hall started her career at UBS in 2001. Also moving with the team is Kristin Fedders, registered client associate.
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