Report: Merrill Snags $1.5B LA, Miami Advisors from Morgan Stanley, Wells Fargo

Merrill Lynch had a busy week, recruiting a team and two solo advisers managing a total of $1.5B in assets at Morgan Stanley and Wells Fargo Advisors, AdvisorHub reported September 26.

Kevin B. Ou and Michael G. Bahgramian, who managed $700m in assets at Morgan Stanley under the Peninsula Group banner, represented the largest move to Merrill. The Los Angeles-based duo generated $5.4M in annual revenue, according to AdvisorHub.

Merrill also added Los Angeles-based Elana Ginsburg to its private wealth management unit. Ginsburg managed $660M in assets and generated $2.3M in yearly revenue, according to the publication.

In Miami, Merrill recruited Jeremy Burch, who produced $2.2M in annual revenue on $200M in client assets, AdvisorHub reported.

Source: https://www.advisorhub.com/merrill-hires-advisors-managing-over-1-5-bln-combined-from-morgan-stanley-wells/