Wells Fargo has hired nine advisers in six states from rival firms Morgan Stanley Wealth Management, Merrill Lynch, and RBC Wealth Management to join its St. Louis-based brokerage business.
The new hires, who joined in April and May 2013, managed more than US$1.12 billion in combined client assets at their old firms.
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In California, advisers John Lyon and Jeannette Dobbyn moved to Wells Fargo from Morgan Stanley, where they managed US$360 million in client assets.
Lyon and Dobbyn, who have nearly 65 years of combined experience in the industry together formed the Lyon Dobbyn Wealth Management Group at Wells and are currently based in Anaheim, with plans to move to Brea.
In Illinois, adviser James Hunt, who has 20 years of experience joined Wells Chicago office from Morgan Stanley, where he managed US$181 million in client assets.
Wells has also hired adviser Anthony Bavedas from Morgan Stanley who managed US$109 million in client assets, in Westport, Connecticut.
In Texas, Brian Stahler joined Wells from Morgan Stanley, where he managed US$108 million in client assets, in Wichita Falls, Texas.
Advisers Peter Vrooman and Jonathan Sarver with total industry experience of 31 years joined Wells from RBC Wealth Management, where they managed US$125million in client assets and are based in Wells’ Kansas City, Missouri, office.
In Massachusetts, adviser Philip Weber with 23 years of experience joined Wells’ Hyannis office from Bank of America’s Merrill Lynch, where he managed US$129million in client assets.
Joining Wells Fargo from Merrill Lynch in San Francisco is Bruce McMillan, who spent 28 years in the business and manages about US$105 million in client assets.
