Which Firms Are Losing Advisors to UBS?

A 33-year industry veteran, Ege was registered with Merrill Lynch for the past four years, according to her FINRA BrokerCheck record. She cut her teeth in the business at Merrill from 1985 to 1990 and then left to work for MML Investors Services and later for other firms (including Citigroup). She most recently left the Merrill on Nov. 27, 2019. 

In New York, UBS International Market Head Catherine Lapadula recruited Jordan McLendon from Morgan Stanley in December. The advisor, who has about five years in the business (including stints at Merrill Lynch and Wells Fargo) has managed about $270 million in assets and produced about $2.2 million in production.

In Atlanta, Market Head Rob Tamarkin helped add James Malatos from Merrill Lynch last month. The advisor, who was with Merrill for the past seven years, has worked on $137 million assets and produced $1.1 million in yearly fees and commissions. 

Tamarkin and Branch Manager Karl Riner recently recruited a Wells Fargo Private Bank team in Daniel Island, South Caroline, who have clients with about $190 million in assets; their yearly production has been $1.6 million. The duo includes Marc Howard and Steven DaBoub.

In New England, Market Head Jim Ducey and Branch Manager Ian MacNeill brought on a Morgan Stanley advisor in Boston in late December: Rueben Fink, who produced annual fees & commissions of $1.1 million on $139 million in assets; he was with Morgan Stanley for the past 11 years. 

Ducey and Branch Manager Thomas Hanlon recruited William Danforth from Fidelity into UBS' North Shore Branch. The advisor had been with Fidelity for the past five years, worked on $80 million in assets and produced $600,000 fees and commissions.

West Coast, Midwest Recruits

Earlier this month in Northern California, Market Head Erin Borger and Branch Manager Marcus Fagersten recruited Baird advisor Jason Schlesinger in Mill Valley. The FA, who has 22 years experience, managed $274 million in assets and had some $2.4 million in yearly production at Baird.

Also, Borger and Branch Manager Eric Weider just hired Greg Smith from Morgan Stanley to join its San Jose branch. Smith has been an advisor for 26 years; he was with Morgan Stanley for the past 10, worked with $177 million in assets and has a yearly production level of $1.6 million.

In the Oklahoma City area, Market Head Mike Mimick recruited Kurt Elliott from Edward Jones, where he spent the past decade. Elliott has managed about $147 million; his latest 12-month production was $800,000.