Houston-based Americana Partners, which oversees more than $10 billion in assets, is breaking a long pause with a significant hire from Morgan Stanley
The RIA, which operates within the Dynasty Financial Partners network, announced Monday that Mark Monroe has joined the firm as senior vice president and private wealth advisor.
Monroe, who was most recently a director of alternative investments at Morgan Stanley, brings with him more than $1 billion in client assets and 15 years of experience advising ultra-wealthy families and institutional investors.
In a statement, Americana’s president Ron Thacker called Monroe “an exceptional addition to our team,” citing his “integrity, investment experience, and unwavering commitment to clients.”
Monroe will be based in Americana’s Houston office, where he will offer concierge financial services and custom investment planning to the firm’s ultra-high-net-worth clientele. He previously founded the Houston office of Cornerstone Global Commodities, where he specialized in derivatives execution for hedge funds and banks.
“I look forward to having the flexibility to anticipate and serve client needs in the continually evolving wealth management landscape,” Monroe said.
Monroe joins Americana as family offices
His hire also follows an earlier move in May, when Americana brought on a four-person team from Morgan Stanley’s Houston office. That group – formerly known as the AHM Group – managed approximately $1.5 billion in assets.
Earlier in March, the firm acquired Los Angeles-based Boulevard Family Wealth in a move that marked its first expansion beyond Texas. The acquisition created a combined RIA platform with $12 billion in assets, according to the firm.
Wells Fargo Advisors has scored its own recruitment win recently against Morgan Stanley, adding two advisors from its rival in Chicago last week.
The defecting pair, Trevor Ricks and James Vender, brings over $454 million in combined assets and a trailing 12-month production exceeding $2.4 million, according to Wells Fargo.
Client associate Chuck Walters has also joined the duo.
Jennifer Johnson, Illinois market leader, welcomed the "highly successful financial advisors," highlighting how the pair puts "clients at the center of each decision they make.”
Elsewhere, Wells Fargo said it hired advisor Samuel Djannie in Ladera Ranch, California. Djannie, who came over from JPMorgan, reportedly manages $162 million in client assets with nearly $1 million in annual production. He joins the firm’s bank channel.
That move builds on another JPMorgan recruitment earlier this month, in which Wells Fargo added a veteran advisor with more than 25 years' experience in Las Vegas.
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Also, Raymond James's employee advisor channel adds breakaways from Wells Fargo and Stifel, while UBS welcomes an ex-Morgan Stanley duo in Indiana.
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