Merrill signs up a passel of advisers

Some industry watchers might view Merrill Lynch as one of the wirehouses most vulnerable to adviser poaching, but the big broker is still handily adding to its famous herd. Over the last month, Merrill has announced the hiring of a total of 10 financial advisers from its three major competitors — Morgan Stanley Wealth Management, UBS Wealth Management and Wells Fargo Advisors. As a group, the 10 managed a total of $1.07 billion in assets and had combined production of $7.7 million at their former firms. The largest of the recruits was the three-person team of Charles Mercer, Marguerite Rowland and Dowell Ryan, who collectively managed $265 million in assets at UBS Wealth Management. They had trailing-12-month production of $2.4 million. The three Louisville, Ky.-based advisers joined Merrill in early November. Merrill also hired six advisers from Morgan Stanley Wealth Management who collectively managed over $700 million in assets and had combined production of over $4.5 million. The largest adviser in the group is Jeffrey Wells, who is based in Mill Valley, Calif. He managed $264 million and had production of $1.5 million. Terry Schurman was the lone adviser recruited from Wells Fargo Advisors. Mr. Schurman, based in Ponte Vedra, Fla., managed assets of $101.9 million and had production of $813,000.