Wirehouse wrap: JPMorgan snags $530M advisor from Wells Fargo in Palo Alto

In what's been an eventful week of recruitment in the wirehouse world, JPMorgan, Merrill, and Wells Fargo announced a slew of hires, representing an in-channel churn of advisors managing more than $2 billion across the East and West Coasts.

JPMorgan adds a Wells Fargo veteran in Palo Alto

J.P. Morgan Wealth Management announced the addition of Pourya Naeimi in Palo Alto, California, as a wealth partner at the firm.

Naeimi previously worked at Wells Fargo, where he oversaw approximately $533 million in client assets, and brings more than 25 years of industry experience. He is joined by Brian Hackmeister, a senior client associate who also moves over from Wells Fargo.

Greg Desmond, regional director at J.P. Morgan Wealth Management, said in a statement that the firm is "proud to have Pourya with us at J.P. Morgan Wealth Management" and that he "shares our dedication to delivering exceptional client service and will play a key role in our ongoing growth in the Northern California region."

Merrill lands a $1.2 billion team in Virginia, plus two smaller additions

In the biggest wirehouse move so far this week, Merrill Private Wealth Management said the Aliaskari Group has joined its McLean, Virginia, office after moving over from Morgan Stanley Private Wealth Management, where they managed approximately $1.2 billion in client assets.

The team is led by founding partner Mehrak Aliaskari, a certified financial planner with more than 23 years of experience, alongside Corinne Heiberger, a private wealth manager who spent more than a decade at Morgan Stanley, and Frank Vorndran, a financial advisor who began his career at Morgan Stanley in 2010.

The group generated approximately $5.8 million in production at its former firm and will be based in Merrill's Northern Virginia market, under market executive Peter Ambrose and resident director Mike Long, aligned with the firm's Southeast private wealth division led by Josh Moody.

Merrill also added two smaller teams this week. Dylan Price joined the firm's Charlotte, North Carolina, office after four years at Truist, where he managed approximately $300 million in assets and generated roughly $1.9 million in production. He reports into the Charlotte & Associates market led by Peter Ardolino.

In Charleston, West Virginia, Ronnie Murad joined from Wells Fargo with approximately $285 million under management and about $1.5 million in production, after earlier stints at Alex. Brown & Sons, Lehman Brothers and Citigroup Global Markets; He joins the Louisville & Associates market under John Gardner.

Wells Fargo scoops three teams in bicoastal hiring burst

Wells Fargo Advisors said it welcomed new advisors in California, Pennsylvania and South Carolina in the first week of September, representing a combined 55 years of industry experience and more than $590 million in assets under management, according to the firm.

Max Ortiz joined the San Francisco office from First Citizens Investor Services with approximately $180 million under management, joined by Qwen Lai, a senior wealth client analytics specialist.

In the East Coast, Darron L. Carpenter joined the Philadelphia office from Citizens Securities with approximately $140 million in assets. Further south, Steven Cottillion and Christian Tully, operating as the Tully Cottillion Group across Pawleys Island and Myrtle Beach, South Carolina, joined from Merrill Lynch with a combined $270 million-plus under management.