Merrill Lynch said it hired two advisors managing a combined $325 million in assets from rivals Raymond James and J.P. Morgan.
Advisor Ricardo Guerrero left J.P. Morgan to join Merrill's office in San Antonio, Texas. While at J.P. Morgan, Guerrero had $100 million in AUM and generated $904,000 in annual revenue. He had been at J.P. Morgan since 2006, according to FINRA records.
Raymond James & Associates advisor Jay Higgenbotham managed $225 million in assets and generated $1 million while at the regional firm. Higgenbotham joined Merrill's Birmingham, Ala., office.
He started his career with Regions Investment Company in 1986, according to FINRA records. He stayed through the firm's merger with Morgan Keegan, and stayed through that firm's acquisition by Raymond James.
Last month, Merrill lured away an advisor team managing $500 million in assets from UBS. The team joined Merrill's Private Banking and Investment Group in Chicago.
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