Michael Kawase, Eric Smutko, Audre Schmedes and Anthony Perez move from Ameriprise to Wells Fargo FiNet.
Wells Fargo Advisors FiNet recruited an 11-advisor team from Ameriprise Financial on Oct. 12 to form Orchard Financial Group, according to our tracking.
The team includes Michael Kawase, Eric Smutko, Audre Schmedes and Anthony Perez.
Our tracking does not list transition money, retention terms or an asset base for the move.
Reported by The Advisor's Note desk from Wealth Advisor Daily deal log. Published . Corrections
The first-half transition report counted 932 experienced-advisor recruits against 1,449 departures at the four wirehouses.
The Los Angeles team produced $4.3 million in annual revenue and brought three additional advisors and four support staff, a spokesperson for the hiring firm said.
Analysts lowered their price target to $445 from $570; shares fell 4.07% after BofA cut the rating Monday.
The core grid stays flat, and the $150 million Elite Award becomes three categories paying a 50% premium.
Terms were not disclosed, and the Austin and Tyler offices become new Beacon Pointe locations.
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