Former executives from Wells Fargo Advisors and Edward Jones, who founded the brokerage firm Ampersand Partners earlier this year, are actively recruiting talent from their former employers as they expand their team. 

According to AdvisorHub, these hires were made discreetly, considering that Ampersand is currently awaiting formal approval from the Financial Industry Regulatory Authority (FINRA) for its restructuring of a Nashville-based brokerage firm acquired in August. The hires include two individuals from Wells Fargo and eight from Edward Jones.

As AdvisorHub reported, Ampersand is offering bonuses equivalent to 50% of an advisor's trailing-12 months revenue (T-12) as upfront cash. Additionally, advisors can receive $145,000 of founders' stock in the new enterprise for every $1 million they generate.

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