Recent industry movement and recruitment activity.
Led by advisors Brian Beraha and Vicente del Rio, the six-person Florida team managed $5 billion in client assets at J.P. Morgan’s private bank.
The team’s move underscores the wirehouses’ growing appetite for large private bank teams.
Merrill Lynch hired a team said to be managing $17 billion in client assets at Citi but on the same day lost a $1.35 billion-asset Maryland team to Janney and a $350 million-asset Connecticut team to independence
Eight-person team had been overseeing around $500 million in client assets, according to a person familiar with their move.
The four-person Low Group in the Detroit suburb of Bloomfield Hills, Mich., left Merrill on Friday
Manhattan-based brokers Matthew Hoffman and Scott Rappaport, who managed a $1.4 billion book at J.P. Morgan, moved a block north on Park Avenue to UBS.
The three-advisor, legacy BB&T Securities team had managed $400 million in client assets at Truist in Virginia’s Shenandoah Valley.
For at least the second time this year, the bank’s broker-dealer deployed the aggressive defensive legal tactic.
NorthEnd Private Wealth, led by four former Merrill Lynch brokers in Greenville, S.C., is the sixth team to join LPL Financial’s Strategic Wealth Services model.
Four-person group had been overseeing $400 million in client assets and underscores Morgan Stanley’s revived recruiting focus.
Advisor Robert Brust and client manager Jodie Nutter, based in Ponte Vedra Beach, Florida, left Merrill Lynch for Raymond James in February.