Merrill has recruited two advisor teams that oversee a combined $770 million in client assets from Morgan Stanley and Wells Fargo.
Michael Scotto and Michael Chong managed approximately $530 million at Morgan Stanley. Along with senior relationship manager Douglas Badstein and registered client associate Louis Aldorasi, they have joined Merrill's Park Avenue market in New York, which is run by market executive Joe Doonan.
Scotto brings 25 years of experience in the industry, having started on the floor of the New York Stock Exchange and later moved to Morgan Stanley. Chong, with 17 years of experience started at Edward Jones and moved to Morgan Stanley a year later.
In South Florida, Jeff Chanin has left Wells Fargo for Merrill's Boca Raton office led by senior resident director Scott Kauffman, which operates within Merrill's Florida Tropics market under market executive Jason Edelmann.
Joined by registered client associate Tara Mirjah, Chanin has more than three decades in the business and oversees approximately $240 million.
Arlis Ortman and Sean Pahut, who managed approximately $180 million at LPL Financial, have joined Raymond James's independent advisor channel. Theresa Schnetz, Western division director at Raymond James Financial Services, announced the move.
The pair operate as Montana Wealth Management from offices in Great Falls and Bozeman, Montana, serving a client base that includes business owners, families, individuals, retirees and people who have come into sudden wealth.
Ortman spent nine years at his previous firm. Pahut has 28 years in financial services and spent the last five at his previous firm.
"Raymond James' leadership has built a culture that supports advisors while keeping client service at the center," said Ortman. "That combination of experienced guidance, practical resources and a service-minded approach provides a strong foundation as we continue serving clients' best interests."
The Montana move comes just a few days after Raymond James announced a new model portfolio offering to support advisors working with high-net-worth clients.
Michelle Ferguson has left Edward Jones to join UBS as a financial advisor in Hyannis, Massachusetts, according to an announcement from UBS.
A 20-year veteran of the financial services industry, her experience includes earlier roles at Bank of America and Sovereign Bank.
Born in the Philippines, Ferguson joins the UBS Greater New England market, which is led by regional director Chris DiMuria, market executive James Ducey and market director Bryan Collins.
"Michelle has dedicated her career to helping clients navigate life's biggest financial decisions, while also giving back to the community she calls home," said Collins. "We are thrilled to welcome her to UBS and look forward to the impact she will have on our clients and our team."
UBS recently extended its footprint on the West Coast as it added a former Merrill Lynch duo serving Silicon Valley execs in California.
Overland Park, Kansas-based Prime Capital Financial has hired Emil Ben-David as a wealth advisor, according to an announcement from the firm.
Ben-David has spent more than 15 years advising individuals and families on investment management, retirement, tax, estate and insurance planning. His most recent role was director of financial planning at a large registered investment advisor, according to the announcement Monday from Prime Capital.
According to his IAPD record with the SEC, Ben-David has been registered at seven firms, most recently as an investment advisor affiliated with Edelman Financial Engines.
"Emil has a strong sense of responsibility to his clients, which is reflected in the fiduciary approach he brings to his work," said Prime Capital CEO Glenn Spencer. "He understands how financial decisions connect across a client's broader plan, and that perspective will be valuable to our team."
""Financial planning continues to become more complex, and clients are asking about a wider range of issues than ever before," Ben-David said, highlighting how "the support and capabilities of Prime Capital Financial" will let him "address more of those needs while staying focused on each client's individual situation."
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