Morgan Stanley Wealth Management has lured a team of three financial advisors from Bank of America Merrill Lynch that managed neraly $6.5bn in client assets for wealthy individuals and institutional clients.
The three advisors namely Linda Stephans, Kristina Van Liew and Erik Oiler previously headed a team of nine as part of Merrill Lynch’s Private Banking and Investment Group, a specialized unit working with ultra-wealthy clients, reported Investment News.
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The nine member team that includes financial analysts and associates, served investors with more than $10m in assets, including family offices, HNWI’s, endowments and other institutional clients.
Additionally, Niesha Parekh, a senior financial analyst, will also join the team at Morgan Stanley.
Stephans joined Merrill Lynch in 2001, while Oiler joined in 1998, and Liew joined in 2006.
In September last year, Morgan Stanley nabbed a $4.5bn team of seven, who operate as the Brice Group, from Merrill Lynch’s institutional consulting group.
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