Wells Fargo Advisors has lured a team of three financial advisors from JP Morgan Private Client Service Group that managed US$1.5 billion in client assets.
The team, which includes John Bueno, John Raetz, and Noah Robinson, will join the firm’s Birmingham, Michigan office.
The advisory team previously had annual production in fees and commission of US$5 million.
Additionally, the newly hired advisors will launch Wells Fargo’s wealth brokerage services in Birmingham.
Bueno has served as an executive director with JP Morgan’s investment division since 1993, while Robinson joined JP Morgan in 2008 and Raetz in 2007.
Bueno said: "We moved because there was a lot of changes occurring at our former employer, and a lot of those changes weren’t to the benefit of our clients or us as employees."
Bueno added that Wells Fargo has offered him a wide range of mutual funds for his clients.