Displaying items by tag: recruiting

Rockefeller Capital Management recently announced that it has nabbed a team of advisors from UBS. Ladage, Smith, Garcia Wealth Partners joined Rockefeller Global Family Office in Austin, Texas. According to the company, this marks Rockefeller’s first private advisor team to be headquartered in the city. The team is led by managing directors and private advisors Alex Ladage and Landon Smith, and also includes senior vice president and private advisor Jorge Garcia, as well as senior client associates Monica Vallejo and Carl Pavlich. Ladage started his career in 2001 at Merrill Lynch and joined UBS in 2009. Smith began his career in 2003 at Edward Jones. He moved to Merrill in 2005 and joined UBS in 2009. According to Forbes, Ladage’s team managed $1.4 billion as of April 2022. Christopher Dupuy, co-president of Rockefeller Global Family Office, said the following in a press release announcing the move, “As we’ve expanded the reach of Rockefeller across the United States, we see significant opportunity to deliver premium and differentiated wealth management services to clients and prospects in Greater Austin and beyond.” In September, Rockefeller CEO Greg Fleming told Reuters that the company aims to more than double its assets under management over the next three to five years.

Finsum:With Rockefeller Capital Management looking to increase its assets under management by more than double over the next few years, the firm lured a $1.4 billion advisor team away from UBS.

LPL recently announced that it nabbed two advisors from Securities America. Eric Fenton and Rodney Wangler, who operate as Fenton Wangler Financial, and are based in Vancouver, Washington, will link up with the JFC Advisor Network, which conducts brokerage and advisory business through LPL Financial. The duo managed a combined $300 million in advisory, brokerage, and retirement plan assets at Securities America. Fenton has been in the industry since 1989. He started with Mutual Service Corporation but has also been affiliated with The Prudential Insurance Company of America, Pruco Securities Corporation, Mony Securities Corporation, Carillon Investments, Sunset Financial Services, SII Investments, and Securities America. Wangler started his career in 1996 with Pruco Securities Corporation. He has also been registered with Mony Securities Corporation, Carillon Investments, Sunset Financial Services, SII Investments, and Securities America. In a statement, Fenton had this to say about the move, “LPL invests heavily in its innovative technology, which is critical to keep pace in this ever-changing environment. We recognized that we needed a platform such as LPL’s ClientWorks where everything is connected, making it easier to do business. Our clients will also appreciate Account View, where they can easily view reports and account information in one place.”

Finsum:A duo from Securities America made the move to LPL due to the firm’s investments in innovative technology, which make it easier to do business.

Merrill Lynch continues its recruitment of veteran advisors with the announcement that it lured away a duo managing $180 million in client assets from Morgan Stanley. The two-person team from Huntsville, Alabama is made up of 26-year veteran Lane P. Wilson and 15-year veteran Teri E. Miller. The pair, which joined Merrill on December 9th, produced more than $1 million in combined annual revenue. At Morgan Stanley, they had been part of a larger team called the Monte Sano Group. At least 11 members of that group remained at Morgan. Wilson started his career at MML Investors Services in 1996, moved to Compass Brokerage two years later, and then moved to Wells Fargo Advisors in 2006. He spent the following 13 years at Morgan Stanley. Miller, who had also been with Morgan Stanley for 13 years, started her career at Invest Financial Corp. in 2007. The office they are joining is part of Merrill’s community markets program that launched in 2018. The program is aimed at growing and retaining brokers in branches outside of Bank of America’s footprint. According to recruiters, Merrill returned to hiring traditional brokers from its rival wirehouses with high-end deals over the summer.

Finsum:Merrill Lynch reeled in a duo from Morgan Stanley that manages $180 million in client assets.

LPL Financial announced that it has nabbed Strategic Partners, a Parsons, Kansas-based practice with 18 advisors and approximately $830 million in advisory, brokerage, and retirement plan assets. Strategic Partners joins from Royal Alliance, an Advisor Group subsidiary, and aligns with National Financial Alliance a San Antonio, Texas-based office of supervisory jurisdiction of LPL. Strategic Partners was founded by Owner and President Chris Lubbers in 1994 while he was still attending college. Lubbers said that he and his firm were attracted to LPL and NFA for their technology, operational efficiencies, and growth opportunities. He stated, “I’m all about efficiency and that’s where LPL shines. The firm has invested heavily in its technology platform, creating efficient processes and enhanced solutions that will help our advisors provide better services. Clients will have easier access to reporting and account information, all in one place to give them a deeper understanding of their financial picture.” He also mentioned that the move will help him and his firm recruit more advisors.

Finsum:LPL announced that it has recruited an 18-person advisor team managing a combined $830 million from Advisor Group’s Royal Alliance subsidiary.

Merrill Lynch recently announced that a $1 million plus producer from Ameriprise Financial has joined its private wealth unit team. Alex Miller, who was part of an Ameriprise Financial team with a billion-dollar book in Houston, joined Merrill’s Massey Schmidt Harper Group in Houston. The team is led by managing director Craig Lambert Massey and has $2.1 billion in team assets. At Ameriprise, Miller was part of Pennington Wealth Management, led by Darrell Pennington. The announcement follows several other new hires at Merrill in recent months, including producers in community markets that are outside its parent Bank of America’s branch footprint and junior brokers with fewer than 12 years of experience. The firm has also expanded its search to include higher offers for veteran brokers. For instance, last month it hired a team of private bankers managing around $1 billion from Citigroup in New York. They also nabbed a million-dollar producer from Morgan Stanley in Huntsville, Alabama, who joined through the firm’s community markets initiative. However, the firm is still seeing several high-producing teams heading for the door.

Finsum:As Merrill Lynchcontinues to lose several high-producing teams, the firm is making a recruiting push with the addition of a $1 million plus producer from Ameriprise Financial.