Advisors with more than $387 million in combined assets have left Morgan Stanley, bound for Merrill Lynch.
Merrill, in a released statement, said Richard Zinman joined the firm's office in Century City, Calif., and had produced more than $1.2 million while working for Morgan. FINRA records show he was based in Beverly Hills while working for Morgan, and had been with the firm since March 2008. He also previously worked for UBS.
A second advisor who left Morgan, Edward Viola, with more than $83 million in client assets, returned to Merrill after an earlier stint there in the early 1990s, according to FINRA records. The nearly 30-year industry veteran now joins Merrill's office in Paramus, N.J. The firm did not release his production numbers.
Also in New Jersey, former Morgan advisors Christopher Carbone and Charles Sergewick joined Merrill's office in Toms River. The duo made the move after managing more than $200 million in assets and producing more than $2 million while at their former employer.
Merrill scooped up two advisors earlier this month from rivals Raymond James and J.P. Morgan, managing a combined $325 million in assets.