Merrill Lynch nabs $400M team from Morgan Stanley

Veteran advisers Michael Bromberg and Daniel Gerschel join in New York

Feb 20, 2014 @ 12:15 pm

By Mason Braswell

Merrill Lynch Morgan Stanley Advisers on the Move
+ Zoom

Bank of America Merrill Lynch has snapped up a former Morgan Stanley duo who oversaw some $400 million in assets.

The two advisers, Michael Bromberg and Daniel Gerschel, have joined Merrill Lynch's New York office.

They previously produced about $1 million in revenue while at Morgan Stanley, according to Merrill Lynch.

Advisers on the Move: Morgan Stanley's 2014 adviser departures

Both are industry veterans.

Mr. Bromberg began his career in 1995 and had been at Morgan Stanley since 2007, according to records with the Financial Industry Regulatory Authority Inc.

Mr. Gerschel started in financial services in 2002 and had been at Morgan Stanley since 2010, records show.

At Merrill Lynch they will report to Michael Simonds, complex manager for the Rockefeller Center Complex.

0
Comments

What do you think?

View comments

Recommended for you

Sponsored financial news

Featured video

Events

What does the adviser of the future need in their toolbox?

Advisers continue to embrace all of the new offerings and products the fintech space has to offer. But what else can help them improve their business?

Video Spotlight

Are Your Clients Prepared For Market Downturns?

Sponsored by Prudential

Recommended Video

Path to growth

Latest news & opinion

10 best financial adviser jokes

How many financial advisers does it take to screw in a lightbulb?

With margins crashing, broker-dealers look to merge: report

Increased regulation is straining profit margins among broker-dealers, sending many of them into the arms of their bigger brethren.

Hackers may have profited from SEC breach

The hack of the agency's Edgar filing system occurred in 2016, but the regulator didn't conclude until last month that the cybercriminals may have used their bounty to make illicit trades.

Top 10 financial firms ranked by investor satisfaction

Find out which firm took the top slot for overall investor satisfaction for the second year in a row.

What not to say to clients when the markets drop

Here's what advisers should steer clear of saying the next time stocks turn downward.

X

Subscribe and Save 60%

Premium Access
Print + Digital

Learn more
Subscribe to Print