Advisor Intelligence

Advisors on the Move: Wall Street Firms Get Busy

  • Irvine, Calif.-based Capstone Financial Group brought onboard a new senior vice president on Wednesday to oversee the recruitment, coaching and development of its financial advisors. Steve Lee, a former vice president and regional manager for BancWest Investment Services, will focus on bringing over and establishing a team of five experienced financial advisors with an estimated $100 million in AUM.
  • UBS picked up a father-son team based in Buffalo, N.Y. from Morgan Stanley, a firm spokesman said Wednesday. Advisors John Reinhold and Derek Reinhold collectively manage $144 in client assets and have a trailing 12-month production of nearly $1.7 million.
  • After the firm reported its advisor force grew in the third quarter, Morgan Stanley kept the momentum going on Monday by adding several advisors in Oklahoma and Kentucky. Ted Bowling and Aaron Bowling joined the Oklahoma City, Okla. office from Edward Jones with $344 million in prior assets.  And in Louisville, Morgan Stanley lured away Robert P. Schneider and his group from UBS. The group, which has $334 million in prior client assets, includes his partner Paige Abner-Peden, group administrator Stephanie Valsted and senior registered associate Anne Cheaney.
  • J.P. Morgan Securities bolstered its advisor force, bringing in eight new brokers who collectively manage $3.9 billion in client assets. For its Atlanta office, J.P. Morgan snagged Tom Ferrero, who joined from Barclays, and Everett Puri from UBS. Also from UBS, but joining J.P. Morgan’s Chicago office is Rick Konecny and his team. In Philadelphia, the firm picked up Ron Wall from Morgan Stanley. Exiting Deutsche Bank, Gerry Aroneo and Ray McLean joined J.P. Morgan’s Florham Park, N.J. office, while Melissa Whitney joined the firm’s San Fransisco office. And in Florida, Barry Snyder moved over from Credit Suisse to the firm’s Palm Beach office.
  • Last week Stifel Financial picked up 47 employees of Ziegler Lotsoff Capital Management LLC. Stifel announced it was acquiring the Chicago-based asset management business—which had $4 billion in assets as of June—for an undisclosed amount. The deal is expected to close in the fourth quarter of this year. 
  • California-based Burnham Gibson Financial Group promoted two longtime employees last week. Todd Stahl, a nearly seven-year member of the firm’s wealth management and pension consulting practice, will now serve as director of wealth management. Meanwhile, Brian Leonard—who has been with the firm since November 2011—was tapped to be a senior analyst.

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Diana Britton is the Managing Editor of WealthManagement.com and REP. Magazine, covering asset management and independent broker/dealers from all angles. A native of Los Angeles, she now lives in...

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