Merrill Lynch Wealth Management has lured five advisors with $619 million in assets and about $2.9 million in production in its latest move in the hunt for advisory talent.
Three of those advisors came from Morgan Stanley, and follow Morgan Stanleys own hiring of a three-member Merrill Lynch team with $1.3 million in production earlier this month.
In Hunt Valley, Md., David Frank and John Judkins join from Morgan Stanley, where they most recently oversaw $168 million in client assets and had $1.2 million in fees and commissions. Both Frank and Judkins moved to Merrill Lynch on Feb. 1, according to their public registration records with the Financial Industry Regulatory Authority, and transitioned to Morgan Stanley in 2009 from Citigroup, which they joined in 2002.
Also joining Merrill Lynch from Morgan Stanley in New York is financial advisor Mickey Littmann. Littmann most recently had $151 million in client assets under management and generated $599,000 in production. He became registered with Merrill Lynch on Feb. 12, according to FINRA records, after becoming a part of Morgan Stanley in 2009 from Citigroup, where he had served since 1993.
In addition, Merrill Lynch also hired Edward Glenn and Pamela Staples from RBC in Austin, Texas. Glenn and Staples, who work together as a team, most recently oversaw $300 million in client assets and had about $1 million in fees and commissions. Glenn joined RBC in 2001 following seven years at First Union Securities. Staples also joined RBC in 2001 after six years at First Union. Both have been registered with Merrill Lynch since Feb. 15.