| NEW YORK, July 2
NEW YORK, July 2 Wells Fargo Advisors
has hired away two brokers from rival UBS Financial Services
in Houston, where they were responsible for managing
more than $300 million in client assets.
Robert Gardner III and Robert Higley produced $2.5 million
in revenue over the last 12 months at UBS's Houston-Galleria
branch. They joined Wells Fargo's office in Northwest Houston on
Tuesday, and bring with them client associate Adrienne Zwahr, a
Wells Fargo spokeswoman said.
Gardner and Higley are the latest team leaders to leave
UBS's operations in Houston in recent weeks. In late May, a
four-person group led by Todd Lavergne left UBS in Houston for
the independent Texas broker dealer U.S. Capital Advisors.
U.S. Capital Advisors has about 100 wealth management
employees across three offices in Texas.
A spokesman for UBS declined to comment on the departures.
Wells Fargo Advisors managed $1.4 trillion in client assets
at the end of last year and had more than 15,280 full-service
financial advisers. The brokerage firm has eight offices in the
(Reporting by Elizabeth Dilts; Editing by Tom Brown)