Morgan Stanley loses $628 million team to Merrill Lynch

The team is comprised of four-advisers, working in Paramus, N.J.
JUN 09, 2017

A four-person adviser team that managed $628 million in assets at Merrill Lynch has left Morgan Stanley to join the Paramus, N.J., office of Merrill Lynch. Advisers Thomas Reichert, Paul Lotito, Eric Aiello and Lindsay Reichert operate as the RLA Group, along with client associates Miriam Gentile and Tracy Hughes, who came with them. Mr. Reichert has more than 39 years of experience in the financial services industry, having started his career at PaineWebber in 1977. From 1980 to 1982 he was with Merrill Lynch, and spent the next 25 years with UBS. He joined Morgan Stanley in 2008. Mr. Paul Lotito was with UBS from 1990, when he began his career, to 2008, when he joined Morgan Stanley. Mr. Aiello began his career at UBS in 2000 and moved to Morgan Stanley in 2008. Ms. Reichert began her securities career at Morgan Stanley in 2010.

Latest News

NASAA moves to let state RIAs use client testimonials, aligning with SEC rule
NASAA moves to let state RIAs use client testimonials, aligning with SEC rule

A new proposal could end the ban on promoting client reviews in states like California and Connecticut, giving state-registered advisors a level playing field with their SEC-registered peers.

Could 401(k) plan participants gain from guided personalization?
Could 401(k) plan participants gain from guided personalization?

Morningstar research data show improved retirement trajectories for self-directors and allocators placed in managed accounts.

UBS sees a net loss of 111 financial advisors in the Americas during the second quarter
UBS sees a net loss of 111 financial advisors in the Americas during the second quarter

Some in the industry say that more UBS financial advisors this year will be heading for the exits.

JPMorgan reopens fight with fintechs, crypto over fees for customer data
JPMorgan reopens fight with fintechs, crypto over fees for customer data

The Wall Street giant has blasted data middlemen as digital freeloaders, but tech firms and consumer advocates are pushing back.

The average retiree is facing $173K in health care costs, Fidelity says
The average retiree is facing $173K in health care costs, Fidelity says

Research reveals a 4% year-on-year increase in expenses that one in five Americans, including one-quarter of Gen Xers, say they have not planned for.

SPONSORED How advisors can build for high-net-worth complexity

Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.

SPONSORED RILAs bring stability, growth during volatile markets

Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.