JPMorgan Adds $28 Billion Merrill Financial Advisor Team

JPMorgan has acquired a Merrill Lynch team, which generates $10 million in annual revenue from managing $28 billion in assets. The team, known as the Gray-Polverini Team, includes financial advisors Eric Gray and Lance Polverini. They are joined by Investment Associate Drew Sapede and Client Associates Michelle Blackmer and Irma Deluna.

Eric Gray brings a wealth of experience, having worked at Merrill Lynch for 24 years and at Goldman Sachs for seven years prior. Lance Polverini also has significant industry experience with a 16-year tenure at Merrill Lynch. The team is based in Los Angeles and specializes in servicing ultra-high-net-worth clients.They will be reporting to David Berger, JPMorgan's market leader for the Southwest region.

This recruitment is considered one of the largest and most significant in the financial advisory industry.