Wells Fargo Advisors has hired 11 advisers in California who previously managed over US$1.1 billion in assets for rival firms.

Eight brokers and most of the assets — about US$1 billion — came from UBS Wealth Management, according to publication InvestmentNews.

Advisors who joined from UBS are -Jose Moreno, Michael Dye, Oliver Cervantes, Teresa Harmon, Robert Rotstan, James Vale, Kate Eiland and Elise Kausen.

The other three advisors – Bruce Lin, Michael Hartmeyer and Patrick Chan- joined from Merrill Lynch where they had around US$142 million in assets.

So far this year, Wells Fargo Advisors has recruited advisors on the West Coast managing about US$2 billion in assets.

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