Rockefeller remains the hottest name in wealth management recruiting in 2020. Adding big teams from wirehouse rivals by the basket full – and sizable amounts of client assets to boot. The Rockefeller narrative continues to resonate across the country and the results are proof of just that dynamic.
On Friday two teams, led by well known and decorated advisors, joined Rockefeller from Morgan Stanley and Merrill Lynch.
From Morgan Stanley, it was John Sargent and his squad; bringing with him an eye-popping $1.5B in assets under management and $5M in annual revenue. Another billion-dollar team added to the Rockefeller banner.
From Merrill Lynch, it was Jeff Harvey walking away from 26 years at Merrill Lynch. Jeff’s team was kind enough to bring a cool $500M in client assets and $3.5M in annual revenue.
So if you’re scoring at home that’s $2B in client assets in NYC and Philly. Rockefeller keeps ringing the bell and ringing it loudly. Sure, the recruiting deals and dollars associated with a move to Rockefeller are significant – but this type of stream of ‘teams of scale’ joining nearly every weekend has just as much to do with the cultural narrative.
It wouldn’t surprise us one bit if Rockefeller leads the ‘net new’ recruited client asset category this year. They’re off to a rousing start already.