As wirehouses nudge advisors to join teams, some advisors are moving to new firms to find their perfect match.
Michael E. Shelley and Paige Hatcher have left Morgan Stanley to team up with their former colleagues at Rockefeller. Shelley and Hatcher oversaw nearly $250 million in assets and generated close to $2 million in annual revenue, according to AdvisorHub. The duo will join a Dallas group led by Art Alexander.
Since recapitalization in 2018, Rockefeller has focused on larger veteran teams that operate independently. Alternatively, a spokesperson said that the company sees the opportunity to take rising stars and partner them with existing, larger teams. Many firms have said that teams are more efficient at serving customers than solo practitioners. However, recruiters note that teams can make it difficult to convince everyone to transition.
Financial Advisor Transitions consults advisors nationwide to explore employment transition options and to preserve and protect their practice in any transition that they make.
