A New York-based staff managing about $2 billion in consumer belongings is becoming a member of Wells Fargo’s Personal Shopper Group from J.P. Morgan, the wirehouse introduced Thursday.
The Canell Group contains advisors (and brothers) Jay and Neil Canell and fellow advisors Justin Dembo, Jake Klarberg, Benjamin Mayo and Daniel Zomback (and their assist workers).
Wells Fargo Head of Advisor Recruiting Brendan Krebs mentioned the agency “couldn’t be extra excited” to convey The Canell Group into the fold.
“Their staff has a longstanding dedication to holistically serving shoppers, and tapping into Wells Fargo’s strong suite of assets and capabilities will assist allow them to realize much more development for his or her enterprise,” he mentioned.
FINRA data present each Canell brothers’ careers in monetary companies span many years. Jay and Neil Canell entered the business at Lehman Brothers in 1993, adopted by successive tenures at CIBC World Markets, UBS, Citigroup, Morgan Stanley and J.P. Morgan. Dembo additionally began at Lehman in 1993 with later stints at lots of the similar corporations, in accordance with FINRA. Others on the staff entered the business prior to now decade.
Final month, J.P. Morgan requested a federal court docket to concern a restraining order in opposition to Kevin Rossow, a former advisor in a Texas department who moved to Wells Fargo in July however continued to solicit his earlier shoppers, in accordance with J.P. Morgan’s criticism.
The court docket granted the restraining order, however inside days the events opted to enter FINRA arbitration, ending the court docket case.
Earlier this month, an advisory trio managing practically $1.8 billion in consumer belongings joined Wells Fargo’s impartial monetary advisory community from Morgan Stanley. The Chicago-based staff included Frank Devincentis, Craig Eyler and Molly Girard, who joined Wells Fargo below the agency identify Viersmo Monetary. Six assist workers members moved with the staff.
