ON THE MOVE-Wells Fargo lands four broker teams from rival firms
April 24 (Reuters) - Wells Fargo & Co's U.S. brokerage has expanded its adviser footprint in four states with new hires from rival firms Morgan Stanley Wealth Management and Edward Jones.
The new hires, who moved to Wells between late March and mid-April, managed $776 million in combined client assets at their old firms. They joined Wells Fargo Advisors' private client group.
In Florida, advisers Richard Meadows, Paul Seifert and Michael Fettig moved to Wells from Morgan Stanley Wealth Management, where they managed $266 million in client assets. They will be based out of Wells' Lakeland office and will report to branch manager Christian Rafool.
In Maryland, advisers Howard Mirvis and Larry Holmes also joined Wells from Morgan Stanley, where they managed $220 million in client assets. Mirvis, who has worked in the advising industry for more than three decades, was a senior vice president at Morgan Stanley. He and Holmes joined Wells' Lutherville office, where they report to complex manager Matthew Glenn.
In New Jersey, adviser Gary Pollick also joined Wells from Morgan Stanley, where he managed $178 million in client assets. Pollick, who has worked in the advising industry for more than two decades, joined Wells' Paramus office, where he reports to complex manager Chris Leavy.
In Virginia, adviser Betty Schutte-Box joined Wells from Edward Jones, where she managed $112 million in client assets. Schutte-Box is based in Wells' Richmond office, where she reports to market manager Rob Withers.
Wells Fargo Advisors, based in St. Louis, is the third-largest U.S. brokerage, following Morgan Stanley's wealth management unit and Bank of America Corp's Merrill Lynch. The firms often compete for top U.S. broker teams.
Morgan Stanley and Edwards Jones did not immediately return requests for comment.