Advisor moves: UBS advisors defect to Ameriprise, Merrill Lynch

The diaspora of advisors from UBS is continuing well into the dog days of summer, with Ameriprise and Merrill Lynch recruiting defectors from the wirehouse into their networks.

Ameriprise adds $500M father-son, father-daughter team in Texas

Ameriprise Financial has expanded its independent channel with the addition of a Beaumont, Texas-based advisor group managing nearly $500 million in assets.

The multigenerational team – comprising Chuck Heare, Ross Heare, Tommy Goth, and Jennifer Goth-Castillo, along with client service assistant Tiffany Barber – joined Q5 Wealth Management, an Ameriprise practice led by Omar Bitar, Jeremy Saba, Mike Persia, Ed Persia and Brad Klein.

The advisors, previously known as Goth Heare Wealth Management Group, moved from UBS after years of collaboration with Q5 at their former firm.

According to Ross Heare, the decision to join Ameriprise was driven by a desire to leave "the traditional Wall Street investment bank or wirehouse culture."

The team also cited the ability to tailor their support model as a key factor in the move, with Tommy Goth emphasizing "the autonomy to build a team and service model that’s tailored to our clients’ needs.”

Q5 Wealth Management has grown steadily since joining Ameriprise in 2024, now totaling 11 advisors and seven support staff managing over $1.9 billion in client assets. Its other recent additions include Scott Guptill from Morgan Stanley and Kurtis Bell from LPL Financial, who brought $100 million and $25 million in client assets, respectively.

Related: Latest salvo in Ameriprise, LPL trade war is charge of a data breach

$800M UBS group joins Merrill in Washington

Merrill has also made notable hires, welcoming the Washington Wealth Management Group – led by David Andreadis – to its Greater Washington DC market.

The team, previously at UBS, manages approximately $800 million in client assets and includes advisors Richard Haskin, Danielle Tersaga, Cole Andreadis, and senior relationship manager Steven Hrones, along with client associates Susan Harrison and Daniel Corr.

David Andreadis brings more than three decades of industry experience and has been recognized on the Forbes Best-in-State Wealth Advisors list since 2020.

In addition, Merrill’s Summit, New Jersey office, led by Paul Santucci, has added Gregory Shanaphy, who spent nearly 18 years at UBS. Shanaphy manages $120 million in client balances.

Related: Merrill sharpens ultra-high-net-worth focus with new advisory group

UBS lures Merrill advisor in Manhattan

Elsewhere on the East Coast, UBS Global Wealth Management managed to regain some ground in Manhattan as it brought on J. Mills-Pierre III as a financial advisor in its Manhattan market.

Mills-Pierre, who previously held roles at Merrill Lynch, JPMorgan and Ladenburg Thalmann, is a senior portfolio manager and founding advisor of Groupe M at UBS. He specializes in advising high-net-worth clients through a multi-family office model, focusing on capital deployment, wealth preservation and legacy planning. Mills-Pierre’s background also includes public sector experience as a finance director for the Los Angeles Mayor’s Office.

In a statement published Tuesday, Kellie Brady, Manhattan market executive for UBS, said, “We’re thrilled to welcome Mills to our team, and we look forward to supporting him as he continues to build and grow his career here at UBS.”

Mills-Pierre is joined at UBS by client associate Brian G. Jones. Outside of his advisory work, Mills-Pierre is a former world-class figure skater and remains active in mentorship and inclusion efforts within the sport.