Texas team, which moved in September, had managed $900 million while breakaway team in Maine had $530 million in assets and moved in August.
Joel East and John Farrell, who left J.P. Morgan’s private bank in the spring to join UBS Private Wealth Management in Fort Worth, Texas, agreed to stop soliciting customers pending the outcome of an arbitration case.
Robert Mitchell, a million-dollar-plus producer at Morgan Stanley, follows the lead of others fired for compliance missteps by joining a regional firm.
Unexpected departure of Dallas-area broker whose team produced around $3 million appears related to unapproved outside business activities, sources said.
Chicago-based registered investment advisory firm Cresset Asset Management opens Texas outpost with hire of Goldman Private Wealth vice president.
Group of four brokers had been generating $4.6 million in fees and commissions, according to the team leader.
Dallas broker was discharged in Morgan Stanley’s continuing pursuit of advisors who allegedly cheated retired advisors on accounts they passed along.
Broker had been managing over $200 million in client assets, according to two sources familiar with his practice.