A UBS advisor team managing about $430 million in assets jumped ship to regional broker-dealer First Kentucky Securities.

The team, known as Kiper-O'Connor Wealth Management, generated $1.5 million in revenue while at UBS.  The group’s members have been together since 2005, and are now based at First Kentucky's Louisville, KY.-office.

The team’s most senior member, Kevin O'Connor, has three decades of industry experience. He started his career in 1984 at Merrill Lynch, according to FINRA records, and later moved on to Dean Witter in 1987 and UBS in 2005. Team member Steven Kiper, a former pilot, had worked at UBS since 2000.

Moving with the two veterans are O'Connor’s son, Ryan, and client service associates Alice Gaughan and Heather Powell. The younger O'Connor began his career at UBS in 2009 after working at the Swiss-owned firm as an intern. At the time he also was studying at University of Kentucky. He earned his CFP designation in 2012.

First Kentucky was founded in 1977 by Ralph Nall and Donald Bradshaw, a former state finance secretary. The Frankfort, KY.,-based firm has about 18 advisors. The firm also has offices in Lexington and Louisville. The latter has expanded to a second floor to accommodate the new recruits. First Kentucky last recruited new advisors about two years ago, says Bruce McCrea, president of the private client group.

McCrea, previously with Wachovia, says First Kentucky wants to appeal to long-time advisors, “who just want to run their practice and serve their clients without a lot of interference from above."

"It's a model that's been very successful for us," he adds.

In addition to its investment advisory services, the firm is active in the Kentucky municipal bond market.

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