There's a buzz in the financial services world as UBS and Morgan Stanley recruit two prominent Merrill Lynch teams, managing a combined $861 million in assets across New Hampshire and Texas. Personal connections often play a crucial role in such moves. Imagine being a seasoned advisor looking for a fresh start with new opportunities. It's a scenario many can relate to—switching gears for professional growth or better client offerings. 🤔 What factors drive financial advisors to shift teams in your experience? Is it the pursuit of higher payouts, better working conditions, or something more personal? 🌟Jared Breault’s transition to UBS, bringing $400 million in assets, and L. Rene Farret joining Morgan Stanley with his $461 million book underline the dynamic nature of our industry. 🔍 If you're considering a move, what weighs most in your decision? I'd love to hear your thoughts! #AdvisorMoves #UBS #MorganStanley #MerrillLynch #WealthManagement #CareerTransitions
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Big moves are happening in the wealth management world! Recently, Morgan Stanley lost two significant teams, managing a total of $2.45 billion in assets, to Wells Fargo and UBS. 🌟 The first team, led by Frank M. Devincentis, Craig R. Eyler, and Molly E. Girard, managed nearly $1.8 billion in assets and joined Wells Fargo’s FiNet channel. This decision marks the beginning of their own independent venture, Verismo Financial, after years at Morgan Stanley. 🎉 In another move, Andy J. Murphy, Eugene F. Suk, and Terence J. Hardy—who managed $650 million—joined UBS Wealth Management USA. The trend of advisors shifting between major firms highlights the dynamic and competitive nature of the industry. It’s fascinating to see how Wells Fargo's restructuring efforts and UBS’s aggressive recruitment strategies are attracting top talent. These moves emphasize the importance of finding the right fit to better serve clients and fulfill career aspirations. What are your thoughts on these significant migrations? 🤔 Have you experienced similar transitions in your career? #WealthManagement #FinancialAdvisors #AdvisorMoves #UBS #WellsFargo #MorganStanley #ClientAssets #FinancialPlanning 💼
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Big moves are happening in the wealth management world! Recently, Morgan Stanley lost two significant teams, managing a total of $2.45 billion in assets, to Wells Fargo and UBS. 🌟 The first team, led by Frank M. Devincentis, Craig R. Eyler, and Molly E. Girard, managed nearly $1.8 billion in assets and joined Wells Fargo’s FiNet channel. This decision marks the beginning of their own independent venture, Verismo Financial, after years at Morgan Stanley. 🎉 In another move, Andy J. Murphy, Eugene F. Suk, and Terence J. Hardy—who managed $650 million—joined UBS Wealth Management USA. The trend of advisors shifting between major firms highlights the dynamic and competitive nature of the industry. It’s fascinating to see how Wells Fargo's restructuring efforts and UBS’s aggressive recruitment strategies are attracting top talent. These moves emphasize the importance of finding the right fit to better serve clients and fulfill career aspirations. What are your thoughts on these significant migrations? 🤔 Have you experienced similar transitions in your career? #WealthManagement #FinancialAdvisors #AdvisorMoves #UBS #WellsFargo #MorganStanley #ClientAssets #FinancialPlanning 💼
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In the dynamic world of financial advisory, significant moves often signal broader industry shifts. 🧭 Recently, Merrill Lynch showcased its relentless recruitment drive by onboarding a powerhouse team from Morgan Stanley managing $2.2 billion in assets. James Oberheide and Brandon Schlesinger, now part of Merrill's Private Wealth unit, bring decades of expertise and a robust client base. Their decision to join Merrill reflects a broader trend of high-stakes advisor moves and M&A activity reshaping our industry. 👉 Have you ever contemplated a move for the benefit of your clients or career growth? Statistics show that successful transitions can unlock massive growth potential for both advisors and clients. But it's essential to navigate this landscape carefully. 🔍 What are your thoughts on the frequent advisor movements? And if you're an advisor, what factors do you consider most crucial when contemplating a change? #FinancialAdvisors #WealthManagement #AdvisorMoves #MerrillLynch #MorganStanley #CareerGrowth
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Exciting moves in the financial advisory industry! Merrill has recruited two high-performing teams managing a combined $950 million in assets from Morgan Stanley and JPMorgan Private Bank. 🌟 This strategic acquisition involves seasoned professionals joining Merrill's offices in Austin, Texas, and New York City. Transitions like these highlight the competitive nature of the financial services landscape and the importance of aligning with the right firm at the right time. Have you ever considered a move like this? What factors would influence your decision to transition? 🤝 To the advisors joining new teams: what were the critical aspects you evaluated before making the leap? Let's discuss the dynamics of such career transitions and what it means for the future of wealth management. #FinancialAdvisory #WealthManagement #CareerTransition #AssetManagement #MerrillLynch #MorganStanley #JPMorgan
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UBS executive hired as CFO by St. James’s Place To know more about it read our full article here: https://lnkd.in/d6NjfcWV . . . . #cionews #newsdesk #dailynews #trending #StJamesPlace #UBS #CFOAppointment #LeadershipChange #ExecutiveNews #FinanceNews #CorporateUpdate #BusinessLeadership #FinancialServices #IndustryNews
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Merrill Lynch has been making waves by onboarding a Morgan Stanley team that manages an impressive $2.2 billion. Meanwhile, LPL's acquisition of an Ameriprise team managing $650 million in California further highlights the ongoing shifts within the financial advisory landscape. 📈 I recall the complexities and excitement of these transitions from my own experiences, understanding how crucial strategic agility and foresight are in such dynamic environments. As advisors and firms continue to evolve, how are these industry changes influencing your growth strategies and approach to client retention? 🤔 ✨ Whether aiming to stay ahead of the curve or simply adapting to these changes, let's discuss and share strategies on thriving amid these industry movements! 🚀 #FinancialServices #AdvisorMoves #ClientRetention #MerrillLynch #LPLFinancial #IndustryTrends
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💼 Goldman Sachs Expands Its Private Credit Market Focus 💼 Exciting developments in the financial landscape as Goldman Sachs doubles down on private credit—a nearly $2 trillion market. This marks a significant structural shift in finance, opening new doors for investors and corporate clients alike. 📈 🔑 Highlights: 🚨Capital Solutions Group: A new division aimed at capturing the growing demand for private credit and private equity. 🚨Dynamic Market: Faster processing and alternative funding solutions for companies considered too high-risk by traditional banks. 🚨Expert Leadership: Pete Lyon and Mahesh Saireddy, seasoned Goldman Sachs veterans, are at the helm. 🌟 Why This Matters: Private credit’s growth represents an incredible opportunity for sell-side directors and financial professionals navigating the evolving landscape. Staying ahead of these trends can redefine career paths and unlock potential in ways previously unseen. #PrivateCredit #Finance #GoldmanSachs #FinancialMarkets #CareerGrowth
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💼 Goldman Sachs Expands Its Private Credit Market Focus 💼 Exciting developments in the financial landscape as Goldman Sachs doubles down on private credit—a nearly $2 trillion market. This marks a significant structural shift in finance, opening new doors for investors and corporate clients alike. 📈 🔑 Highlights: 🚨Capital Solutions Group: A new division aimed at capturing the growing demand for private credit and private equity. 🚨Dynamic Market: Faster processing and alternative funding solutions for companies considered too high-risk by traditional banks. 🚨Expert Leadership: Pete Lyon and Mahesh Saireddy, seasoned Goldman Sachs veterans, are at the helm. 🌟 Why This Matters: Private credit’s growth represents an incredible opportunity for sell-side directors and financial professionals navigating the evolving landscape. Staying ahead of these trends can redefine career paths and unlock potential in ways previously unseen. #PrivateCredit #Finance #GoldmanSachs #FinancialMarkets #CareerGrowth
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James Gorman of Morgan Stanley discussed the diversity of wealth management clients being a strength from a business perspective. If someone is selling, someone else maybe buying etc. We're seeing aggressive hiring in the sector, but wealth management is made up of very diverse businesses and owners. Some parts of the industry are massively more bullish than others. #wealthmanagement #privatebanking #investmentmanagement
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…and what of that evil empire, Goldman Sachs (you know: the great vampire squid)? As you may know that while I retired after 14 years at Citi Private Bank I spent the 11 years prior in the wealth management group at Goldman Sachs. My time there spanned August, 1999 into September, 2010. I was still very much in the game for Goldman when Matt Tiabbi had his now famous description - Goldman Sachs is much like a “great vampire squid wrapped around the face of humanity, relentlessly jamming its blood funnel into anything that smells like money” - published in a July, 2008 issue of Rolling Stone. Eeeek. I remember being offended. I wouldn’t want my mom thinking of me as a vampire squid. Not even a great one. Company reputations are earned over time. And the reputation of any individual company can be varied among different groups of people: clients, employees, ex-employees, competitors, regulators, vendors, and even journalists. Let’s be real: if you are a journalist for Rolling Stone in 2008 you are required to be a hater of anything Wall Street. So maybe intake a grain of salt as you consider the Tiabbi description of Goldman. My old colleague Adam Elegant’s post last week about the 25th anniversary of our 1999 associate class at Goldman brought back a flood of memories. Some great people in that group. We started just after the Long Term Capital Management implosion and during the .com go-go years. We watched that slow motion train wreck for the next three years and fought for our own survival. And some of us were there during the 2007/08 financial crisis that called into question the longevity of Goldman itself. Along with a fabulous partner I built my wealth management business in Seattle during those years. For a few different reasons we left in late 2010 for one of our competitors, Citi Private Bank. As an ex-employee I’ve got my own view of Goldman. While that view continued to be shaped over time it was largely formed early in my tenure there based on three very personal experiences. I thought I’d share those with you over the next few days. The Internship The Cancer The Lawsuit
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