Evelyn Varner, who spent 10 of her 16 years in the industry at Bank of America Merrill Lynch, has joined Wells as head of advice enablement.
New Jersey team includes four advisors and three associates and has a heavy focus on institutional consulting, according to RBC.
Since the firm halted veteran broker recruiting in 2017, loan balances dropped 46.5% to $588 million at the end of 2020, down from over $1 billion prior to the stoppage.
The wirehouse’s new hires include a Merrill resident director to oversee its Roseville, CA office and a Bank of America private bank team touted by a source as “one of the largest” in the Bay Area.
Advisor roster shrank slightly, less than 1% year over year, as the company said that it was more focused on qualitative metrics than adding new hires.
TSG Wealth Management, a $4.6 billion practice, claims the broker, Rahamin “Rocky” Suares, a 38-year industry veteran in Southern California, promised to retire as part of a $3-million deal but instead has been soliciting clients to move to his new firm.
UBS Group AG is in the early stages of planning to offer wealthy customers digital currency investments, joining U.S firms in seeking to give broader access in response to client demand.
This Week’s Top 5: Morgan Stanley Account Coding Review Continues, Finra Suspends Broker over Bequest, And More
Most-read stories from May 2 to May 8.
The first week of May brought Overland Park, Kansas-based Creative Planning its largest acquisition by AUM in its history, while CI Financial also cut a deal for one of its RIAs.
Goldman Sachs Group Inc. and bond titan Pacific Investment Management Co. have a simple message for Treasuries traders fretting over inflation: Relax.
Hedge funds have accumulated the biggest short position on junk bonds since 2008 in another sign that investors are lining up to bet against frothy debt markets.