Team of 7 Ex-Merrill Reps with $3.3B Goes Indie

Despite the choppy markets, advisor recruiting is on a tear.Despite the choppy markets, advisor recruiting is on a tear.


Seven former Bank of America-Merrill Lynch (BAC) advisors have launched Corient Capital Advisors, a boutique wealth firm with over $3.3 billion in assets under management. For its part, Merrill gained two ex-Wells Fargo (WFC) advisors with nearly $3 million in assets.

Chris Copps, Gordon Hassenplug, Darren Henderson, Michael Phelps, Alex Stimpson, Jon Tenney and Greg Walters, all former Merrill Lynch, formerly worked together in two teams at Merrill in its private banking and investment group.

The new firm is based in Newport Beach, California. It has partnered with Dynasty Financial Partners for its platform; Fidelity Investments will provide asset services to the group.

Merrill Lynch recruited Bob Krumholz and Becca Siegel from Wells Fargo Advisors. The two reps have joined a group led by Emily O’Connell and formed Oaks Wealth Management Group in Austin, Texas.

Krumholz and Siegel, who had almost $1.8 million in yearly fees commissions and $270 million in assets under management last year, will report to Tim Gillespie, market executive. Members of the newly formed Oaks Wealth collectively services some $481 million of client assets and $3.2 million in production last year.

Other Recruiting News

Wealth management and investment banking firm Noyes has brought in Peter Corey as a wealth advisor, reporting directly to James Lynch, managing director of wealth management.

Cory, the founder of Cory Investments, joins from J.P. Turner Co., where he most recently served as a registered representative. Earlier, he was vice president of investments at Williams Financial Group in Chicago; before that, he was a branch manager at Prudential. He began his career at Merrill Lynch in Chicago.

Rogers Financial, helmed by Kenneth Rogers, managing principal, has moved to Pensionmark Financial Group’s advisor support program in Washington, D.C.

The firm has been serving as an advisor to retirement plan sponsors for more than 20 years. It will maintain its independent business model.

The MetLife Premier Client Group of Florida says Jeremy Straub has joined it as a managing partner. He will be responsible for a team of 190 advisors with $3.7 billion in client assets under management.

Previously, he served as regional vice president with Ameriprise Financial (AMP), and oversaw a team of 177 advisors managing some $7.9 billion in client assets.

Read the Sept. 23 Recruiting Roundup at ThinkAdvisor.

 

Open all references in tabs: [1 – 3]

Tags:

Wednesday, September 30th, 2015 EN

No comments yet.

Leave a comment

You must be logged in to post a comment.