The duo, Westcott Jones and Scott Vogel, had overseen more than US$1 billion in client assets for Wells Fargo’s Abbot Downing family wealth business.
Jones and Vogel had joined Merrill Lynch’s private banking and investment group in late July and had been a part of Lowry Hill, a boutique wealth management firm that merged with Wells Fargo’s family wealth business in April to form Abbot Downing.
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Previously, Lowry Hill had been a separate subsidiary of Wells.
Further, the two advisers will be based in Minnesota and has joined the team of Swenson Jones & Associates, a part of Merrill Lynch’s private banking and investment group, which, like Abbot Downing, caters to UHNW clients.
Merrill’s private banking division had also recently added advisers Matthew Celenza and Lawrence DiGioia from Barclays in Los Angeles.
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