Wells Fargo hired five advisors managing nearly $500 million in combined assets, according to a spokeswoman.
In the largest of three moves, a Morgan Stanley team managing about $200 million joined Wells Fargo on March 27 in Carlsbad, Calif., a suburb of San Diego. The team is comprised of advisors Daniel Avan and Alan Shapiro.
Avan started his career in 1993 with Dean Witter, according to FINRA records. He moved to Smith Barney in 2000, staying through that firm's merger with Morgan Stanley. Shapiro joined Smith Barney in 2003.
On March 26, advisor Raymond Palmer and client associate Tori DeVries left Stifel to join Wells Fargo in St. Charles, Mo. Palmer managed more than $148 million in client assets while at Stifel, according to a Wells spokeswoman. He had been with Stifel since 2002.
Two RBC advisors who managed more than $138 million in client assets moved to Wells Fargo on March 26. Michael Berlin and Scott Richman joined the wirehouse's Philadelphia branch.
Berlin launched his advisory career in 1998 at J.B. Hanauer, while Richman joined the firm in 2003, according to FINRA records. Both advisors stayed on through the merger with RBC in 2009.
Earlier this week, Wells Fargo lost a $1 million producer to Raymond James & Associates. Advisor James Pohlman joined Raymond James in St. Louis, where Wells Fargo Advisors is based. Pohlman managed approximately $175 million while at the wirehouse, according to Raymond James.