Merrill Lynch has bolstered its Nashville, Tennessee presence with the addition of financial advisor Peter Choy, a UBS veteran who oversees $460 million in client assets. Choy, a West Point graduate and recurring honoree on Forbes' best-in-state advisor lists, spent over two decades at UBS before making the move. He joins Merrill's Volunteer State Market under market executive Tyson Moore, accompanied by business manager Holly Adams, registered wealth management client associate Weston Zierer, and wealth management associate Katie Malecky. At the time of the transition, Choy's practice generated approximately $4.3 million in annual production.
Meanwhile, Wells Fargo Advisors has added four financial advisors across its San Francisco and Northwest markets, collectively managing roughly $825 million in client assets and bringing a combined 95 years of industry experience. In Bellevue, Washington, Kathren Wills joined from Raymond James with over $230 million in client assets, accompanied by her son Blake Wills as an associate financial advisor and client associate Nelly Johnston. In Napa, California, Daniel Dwyer moved from Edward Jones, where he oversaw nearly $320 million in client assets, joined by client performance analyst Erin Hofacket.
Earlier this month, Brandon Harper transitioned from J.P. Morgan in Lafayette, California, bringing more than $130 million in client assets. Samuel Mattson also departed J.P. Morgan in Vancouver, Washington, managing nearly $145 million. Beyond these West Coast moves, Wells Fargo's independent advisor channel, FiNet, secured a $650 million team from Stifel's independent arm in Pennsylvania, marking a substantial win for the firm.
In Southern California, Wedbush Securities has added Steve Schwary as a financial advisor in its wealth management division, based in Newport Beach. Schwary brings over three decades of experience serving individuals, families, and multi-generational clients through personalized portfolio management and comprehensive wealth planning. Before joining Wedbush, he served as first vice president, investments at Stifel, and previously spent more than 15 years as first vice president, investments and senior PIM portfolio manager at Wells Fargo Advisors. He began his career at Smith Barney, where he held the title of first vice president and senior portfolio manager.
Schwary cited Wedbush's "entrepreneurial culture and commitment to advisor independence" as key factors in his decision, allowing him to "continue delivering personalized management while deepening the relationships that have been the foundation of my business for the past three decades." The move underscores a broader trend of experienced advisors seeking platforms that offer greater autonomy and support.
These personnel moves come amid a competitive landscape for talent, with firms like Baird and Merrill Lynch also making notable hires. The pattern of veteran advisors leveraging their track records to negotiate favorable terms continues, as seen in the LPL Financial and &Partners deals earlier this year. For advisors, the ability to maintain client relationships while transitioning platforms remains a critical factor in these decisions.
