![]() In January 2022, the company permitted Gully to resign over allegations that he “used production numbers that were inconsistent with agreement with another representative,” the company said, according to BrokerCheck. Gully’s team at Morgan Stanley managed $5 billion, according to an August 2021 profile on Forbes. Gully joined the financial services industry in 1985, registering with Salomon Brothers in New York, and moved to Morgan Stanley in 1992, according to BrokerCheck.Īmong Gully’s clients were several Morgan Stanley executives, including Chief Executive Officer James Gorman, according to AdvisorHub. Josh has a proven ability to meet the needs of ultra high net worth clients and will greatly contribute to the strong culture that NewEdge Wealth embodies.” "Josh and I, along with NewEdge partners John Straus and Jeff Kobernick, have a long working history and deep respect for each other," Rob Sechan, chief executive officer and co-founder of NewEdge Wealth, said in the announcement. He is tasked with overseeing client relationships and growing the company’s assets under management, NewEdge said. Josh Gully joined NewEdge Wealth as a managing director at the registered investment advisor firm’s headquarters in Stamford, Connecticut, according to the firm. NewEdge Wealth said it has added an experienced former Morgan Stanley financial advisor to its ranks. Additionally, Rockefeller Capital Management added a five-person team from First Republic that had $1 billion in client assets while UBS added a First Republic solo advisor who had nearly $480 million in client assets, as reported. Morgan Stanley earlier this month also added an advisor who had $2.3 billion at First Republic. ![]() Since mid-March, at least 25 advisors and registered client associates have moved to Morgan Stanley from First Republic, including a seven-person team that produced $12.5 million in annual revenue and oversaw $10.8 million in assets, as reported. RBC isn’t the only firm recruiting from First Republic in the wake of the latter’s woes. The advisors’ BrokerCheck records have not yet been updated to reflect their registration with RBC. Lovoy has been in the industry since 1984, when he registered with Crowell, Weedon & Co., and was also registered with Kidder, Peabody & Co., Lehman Brothers, Citigroup and Wells Fargo before joining First Republic, according to his BrokerCheck record. ![]() ![]() Edwards & Sons before joining First Republic, according to his BrokerCheck record. MacDonald has been in the industry since 2006, when he registered with Ameriprise Financial, and had also been registered with Wells Fargo and predecessor A.G. Halbrook has been in the industry since 1995, when he registered with Smith Barney, and was also registered with Wells Fargo before joining First Republic in 2018, according to his BrokerCheck record. The team, which works with high-net-worth individuals, families and businesses, includes advisors Todd Halbrook, Adam MacDonald and Vince Lovoy as well as Senior Financial Associate Christie Gregg and Senior Client Associate Parker Howard, RBC said. ![]() The team operates as The Todd Halbrook and Adam MacDonald Wealth Management Group and is based in Newport Beach, California, according to RBC. RBC Wealth Management announced it has added a three-advisor team overseeing $1 billion in client assets from First Republic, as exits of high-producing teams from the beleaguered bank’s wealth business continue. ![]()
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