Merrill Lynch Hires a Big TeamPosted by in Blog on July 25, 2011
According to an article in Investment News, a four man team of financial advisers from UBS Financial Services has joined the Palm Beach Complex of Bank of America Merrill Lynch. This team manages $ 277 million in assets with a trailing 12 production of $ 2.5 million and will report to Merrill Lynch managing director James Chahine.
“The move registers as one of the largest moves of the last 60 days according to the Investment News Advisers on the move database.”
Recruiting Financial Advisers within the wirehouses has been slow this year. The main reason is that a large percentage of advisers are still under their retention packages signed two to three years ago.
As the retention packages are worked off, recruiters expect to see more advisers explore their options after summer.