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August 20, 2020 at 11:11 AM
(Photo: AP)
A Merrill Lynch group led by Phil Scott has moved to First Republic Bank. The team has 12 members and is based in the Seattle area, where it works with about $2.5 billion of client assets, according to Barron’s.
Scott is “a very accomplished wealth manager with a long track record … ,” said Bob Thornton, president of First Republic Private Wealth Management, in a statement. “Scott and his colleagues share First Republic’s commitment to exceptional client service.”
The advisor spent the past 35 years at Merrill, according to FINRA BrokerCheck. His regulatory record includes seven disclosures.
Separately, Arnoldo Santiago has left Merrill Lynch to become UBS’ assistant market head for Northern California.
Santiago, who has 22 years in the business, recently has worked with about $76 million of assets and about $640,000 of yearly fees and commissions.
“I’m excited to have Arnoldo join our diverse leadership team and am proud to share that more than half of our West Division Complex Directors are diverse,” according to Jennifer Povlitz, West Division director for UBS Global Wealth Management. “Our recruitment and promotion within the division has also reflected our commitment to diversity.”
Wells Fargo FiNnet
The independent channel of Wells Fargo Advisors, Wells Fargo Advisors Financial Network, says an affiliated practice has recruited three advisors from UBS and Merrill.
Seventy2 Capital Wealth Management is now the home of Troy Elser and Ryan Gutowski, formerly of UBS. The duo is based in Hunt Valley, Maryland, where they work with $215 million in client assets.
