Rockefeller Scoops Up $7-Mln UBS Private Wealth Team in Atlanta
(Corrected to note that Pinnacle Club is UBS’s top recognition level and updated with assets and production from Rockefeller spokesperson.)
After a two-month lull, Rockefeller Capital Management appears to have restarted its broker recruiting engine and has hired an Atlanta team generating $7 million in yearly revenue at UBS Wealth Management US, according to a well-placed source.
A spokeswoman for Rockefeller confirmed the move but said their production was $7.8 million with assets of $1.35 billion
Neither Montgomery, who had spent 21 years of his 27-year career with UBS and its McDonald Investments predecessor, nor Levin, who has been registered with UBS for all of his 12-year career, according to BrokerCheck, could immediately be reached for comment.
Montgomery, who first registered as a broker in 1994 at Robinson-Humphrey, ranked 8th in the state of Georgia this year and has a minimum account size of $5 million, according to Forbes. He had also been a UBS Pinnacle Club member, the highest production-based recognition tier, according to his former firm bio.
Rockefeller has added 58 teams since the legacy family office began expanding into wealth management in March 2018 with venture capital backing, but it took a short pause to digest a round of aggressive hiring earlier this year that culminated with three Merrill Lynch teams joining on the same day in June, according to an industry recruiter who works with Rockefeller and spoke on condition of anonymity.
“That’s just the way that the recruiting cycle works,” the recruiter said. “You pour a bunch of effort and resources into closing what you have in front of you…but then you’ve got to rebuild the pipeline.”
A Rockefeller spokeswoman said she could not immediately comment, and a spokesperson for UBS did not return a request for comment.
Rockefeller Chief Executive Greg Fleming said in May that the firm is looking to double its footprint over the next five years and add as many as 20 offices. The goal, executives have said, is to have around 200 advisor teams by 2025.