Wells Fargo Advisors has added more than $9.6 billion in client assets through a wave of advisor recruiting in the first half of May, drawing experienced talent away from some of the industry's biggest names including Morgan Stanley, UBS, Merrill Lynch, and JPMorgan.
The haul was led by three high-profile team acquisitions. The Taylor Group, a $5.94 billion AUM team, defected from Morgan Stanley to join Wells Fargo's New York City operations. In Frisco, Texas, the AGT Private Wealth Group brought over $1.6 billion in client assets after departing UBS. And in Lemoyne, Pennsylvania, Bartoli Private Wealth Management Group made the move from Morgan Stanley, bringing roughly $1.49 billion with it.
Beyond those headline additions, Wells Fargo also quietly assembled a roster of individual advisors between May 1 and May 15, each overseeing at least $100 million in client assets prior to their move:
"Advisors are continuing to choose Wells Fargo because of the strength of our platform,” said Sol Gindi, head of Wells Fargo Advisors. “By combining the full capabilities of a leading wealth management firm with ongoing investment in technology, integrated banking and investment advice, and a strong culture of partnership, we're focused on helping advisors better serve clients and build enduring practices."
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