Benjamin Edwards hires ex-UBS advisers, opens office

Mon Feb 11, 2013 3:44pm EST

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(Reuters) - Benjamin F. Edwards & Co, a boutique brokerage with family ties to the old A.G. Edwards & Sons, said on Monday it hired a team of advisers from UBS Wealth Management Americas to open a new office for the firm in Florida.

Adviser Betsy Dickson and her daughter, Dawn Dickson, moved to Benjamin Edwards on Friday in Melbourne, Florida. The duo had been a team with UBS Wealth Management Americas, the U.S. brokerage owned by the Swiss bank UBS AG.

UBS declined to comment on the adviser departures.

The senior Dickson, who joined Benjamin Edwards as a managing director of investments, has been an adviser for 27 years, most spent with A.G. Edwards & Sons. She spent a decade as a teacher prior to entering the securities industry.

The younger Dickson has worked in the advising industry since 1987. She partnered with her mother in 2003.

The new Melbourne office anchored by the Dickson team is the second Florida-based branch for Benjamin Edwards, which also has an office in Panama City.

The advisers were joined by client service associates Jo-Ann LaPan and Michele Swope.

OTHER HIRES

Benjamin Edwards also said on Monday it hired advisers in Illinois, New Jersey and Missouri.

In Illinois, adviser Edward Meyer joined Benjamin Edwards' Wheaton office from Wells Fargo Advisors, the brokerage owned by Wells Fargo & Co. Meyer, who joined as an associate vice president of investments, has been in the industry for 15 years.

In New Jersey, adviser Lenny Mandel joined Benjamin Edwards' Red Bank office, also from Wells. Mandel, who started his career in the securities industry in 1980, joined the firm as a vice president of investments.

In Missouri, advisers Jeremy Jacobs and Zachary Dockman joined Benjamin Edwards' Clayton office as financial consultants. The advisers had also previously been with Wells.

Since its founding in 2008, St. Louis-based Benjamin Edwards has expanded its adviser base by hiring dozens of legacy A.G. Edwards advisers, the bulk of which came from Wells.

A.G. Edwards & Son was bought in 2007 by Wachovia, which one year later was acquired by Wells.

(Reporting by Ashley Lau in New York; Editing by David Gregorio)

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