Merrill Lynch Wealth Management hired Gary L. Burgess to serve as senior vice president, resident director for its Chicago-Monroe office. Burgess most recently served as managing director and regional executive at Deutsche Bank, where he led the firm's Chicago business.

Morgan Stanley Smith Barney and Morgan Stanley Private Wealth Management hired 11 new financial advisors. The largest producing team of those hires includes brothers Scott Fortney and Grant Fortney, who join as private wealth advisors in Houston from Merrill Lynch. They had a combined $885 million in client assets under management and $8.4 million in annual fees and commissions.

UBS Wealth Management Americas hired two teams from Morgan Stanley Smith Barney. That includes Mario Afram, Carl Ekroth and Harish Jashanani, who join the firm's Paramus, N.J. office. They previously had more than $200 million in assets under management and about $1.4 million in production. Shawn Shafer, James Forsyth and Steven Miller also join UBS in Encino, Calif.

Raymond James & Associates hired a Wells Fargo Advisors team to open its first Richmond, Va. office. That team includes James A. Schmidt and Bernice "Bernie" Murff. They previously oversaw more than $90 million in client assets and had $1.1 million in production.