By Dow Jones Business News, October 07, 2013, 03:16:00 PM EDT
By Corrie Driebusch
Two teams of financial advisers--who collectively managed more than $439 million in client assets--have joined the
retail brokerage arm of Wells Fargo & Co. ( WFC ) from rival brokerages at UBS AG (UBS, UBSN.VX) and Bank of America Corp.
( BAC ).
The team of John Phillips, Darrell Jones and Scott Dickerson are now working at the Salt Lake City, Utah, branch of
Wells Fargo Advisors, according to their new firm. At UBS, the team previously managed $219 million in client assets and
generated a production of nearly $2 million in fees and commissions, a Wells Fargo spokeswoman said.
A spokesman for UBS declined to comment.
Mr. Phillips and Mr. Jones joined UBS in 2006 and Mr. Dickerson came aboard in 2007, according to Financial Industry
Regulatory Authority records. Messers Phillips and Jones previously worked for Citigroup Inc. ( C ), Finra records show.
Separately, the Climer Wealth Management Group, a father-and-son team, joined Wells Fargo in Charlotte, N.C., from
Merrill Lynch. While at Merrill, Michael and Wes Climer managed $220 million in client assets with a production of $1
million, according to Wells Fargo.
A spokeswoman for Merrill did not immediately respond to a request for comment.
Michael Climer worked at Merrill for two decades, Finra records show, while his son, Wes, joined Merrill in 2011.
(Street Moves chronicles the migration of executives on Wall Street, with a particular emphasis on financial advisers
with more than $1 million in annual production and those who manage more than $100 million in client assets.)
-Write to Corrie Driebusch at email@example.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
(END) Dow Jones Newswires
Copyright (c) 2013 Dow Jones & Company, Inc.