Wells Fargo lands former UBS wealth adviser

Fri Apr 13, 2012 2:31pm EDT

(Reuters) - Wells Fargo & Company (WFC.N) expanded its broker ranks in Colorado, adding a veteran adviser from UBS Wealth Management Americas to its Wells Fargo Advisors brokerage unit, the company said on Friday.

Adviser David Halsch, a three-decade industry veteran, joined Wells' Denver office on Thursday from UBS AG's (UBSN.VX) (UBS.N) U.S. brokerage, a recruiter with knowledge of the move told Reuters.

A Wells Fargo spokeswoman confirmed the hire, but was not yet able to disclose his client assets under management or production.

Halsch, who was with UBS for 10 years before making the move to Wells, also worked as an adviser at Merrill Lynch for about two decades before the brokerage was purchased by Bank of America Corp (BAC.N).

Wells Fargo Advisors is the third largest U.S. brokerage by client assets after Morgan Stanley Smith Barney and Merrill Lynch. Wells had more than 15,000 advisers with roughly $1.1 trillion in client assets as of the end of December.

Since the start of the year, San Francisco-based Wells has added at least 22 experienced advisers with $2.2 billion in client assets managed, based on moves tracked by Reuters. Those new hires came primarily from competing firms UBS, Merrill Lynch and Morgan Stanley Smith Barney.

(Reporting by Ashley Lau in New York; editing by Andre Grenon)

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