Majority of the advisors appointed are from Morgan Stanley Smith Barney, while some others are from Merrill Lynch and UBS, as well as other firms including Stifel Nicolaus and Phillips & Co.
Onwallstreet also stated that the largest hire, in terms of AUM is financial advisor Michael Prat, who was hired from Morgan Stanley Smith Barney, where he had US$251 million in AUM, as of June 2012. Prat reports to branch manager Billy Blakeman.
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Further, the father-son team Jeff Drowos and Bryan Drowos-the Drowos Group has also joined the firm in June. They have joined from Morgan Stanley Smith Barney, where they oversaw US$198 million in client assets.
Also joining Wells Fargo with their team is client associate Cindy Shore. They are based in Boca Raton and reports to market manager Alex Bigelow.
Meanwhile, Wells Fargo has also taken in seven new financial advisors in July 2012, with Cynthia Colin, who joined from Morgan Stanley Smith Barney with US$154 million in assets, representing the largest of those hires by assets.
Colin joins the firm’s Park Avenue branch in New York, and reports to branch manager Tim Sheridan.
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By GlobalDataAnother Morgan Stanley advisor to have joined Wells Fargo in July 2012 is Jimmy Burns, alongside financial consultant Judd Fleming. Together, they operate under the name Burns/Fleming Group and previously had US$146 million in AUM. They report to market manager Jay Hoyle.
Additionally, Morgan Stanley advisor Steve Freidin has joined Wells Fargo in Lake Forest, in July 2012. Freidin previously oversaw US$110 million in client assets. Also joining Wells Fargo with him is financial consultant Larry Malles. They report to complex manager Jim Johnson.
Other advisors joining Wells Fargo in July included Jack Lobianco from UBS in St. Petersburg and Lance Hubeny from Merrill Lynch in Red Bank. Lobianco previously oversaw US$109 million in client assets and reports to Branch Manager Gary Garcia. Hubeny had US$98 million in AUM and reports to complex manager John Puzio.
Wells Fargo had hired financial advisor Allen Wilson in August 2012 and client associate Susan McNamara in Morristown from Stifel Nicolaus. They previously had US$212 million in AUM and now report to complex manager Tom Thives.
The firm also hired advisor Pil Hwang in August to its wealth brokerage services business in Portland. Hwang previously had US$120 million in AUM at Phillips & Co, and now reports to regional brokerage manager Tony Brauner.
Wells Fargo has been on a financial advisor hiring spree in 2012, with it having announced in June 2012 of its plans to hire advisors with US$2.75 billion in assets to its various brokerage businesses.
