Merrill signs up a passel of advisers

Ten from firm's top three competitors join in November

By Andrew Osterland

Nov 29, 2012 @ 3:07 pm (Updated 3:16 pm) EST

merrill, advisers, ubs, wells fargo, morgan stanley

Some industry watchers might view Merrill Lynch as one of the wirehouses most vulnerable to adviser poaching, but the big broker is still handily adding to its famous herd.

Over the last month, Merrill has announced the hiring of a total of 10 financial advisers from its three major competitors — Morgan Stanley Wealth Management, UBS Wealth Management and Wells Fargo Advisors. As a group, the 10 managed a total of $1.07 billion in assets and had combined production of $7.7 million at their former firms.

The largest of the recruits was the three-person team of Charles Mercer, Marguerite Rowland and Dowell Ryan, who collectively managed $265 million in assets at UBS Wealth Management. They had trailing-12-month production of $2.4 million. The three Louisville, Ky.-based advisers joined Merrill in early November.

Merrill also hired six advisers from Morgan Stanley Wealth Management who collectively managed over $700 million in assets and had combined production of over $4.5 million. The largest adviser in the group is Jeffrey Wells, who is based in Mill Valley, Calif. He managed $264 million and had production of $1.5 million.

Terry Schurman was the lone adviser recruited from Wells Fargo Advisors. Mr. Schurman, based in Ponte Vedra, Fla., managed assets of $101.9 million and had production of $813,000.

  @IN Wire

Apr 22 07:49PM
I really hope this doesn't mean every Pearl Paint store is closing. http://t.co/I9h2gMoCEu
Apr 22 07:23PM
The 5 Types of People You're Likely to Unfriend on Facebook http://t.co/VB6C2Bs0oU

Career Center

Explore your opportunities and be informed for your next move.

Company Type
Firm Type
Clearing Firm
Presented by

Most Watched Video

7:12The 2 biggest factors driving growth in active ETFs

Ugo W. Egbunike Dir. Of Business Development, ETF.com Greg Crawford Deputy Editor, InvestmentNews

Video Spotlight
1:47People are Living Longer. Good News or Bad News?

Sponsored by Oppenheimer Funds Inc.