Bank of America\u2019s Merrill Lynch wealth management team has added to a flurry of advisor recruiting wins this week by adding John Vazquez and Manuel Monasterio in Santa Fe, N.M., along with $1.2 billion in client assets.<\/p>\n
The duo, along with four support staff, left UBS to make the move. Vazquez, who had been with the Swiss Bank\u2019s North American wealth division since 1999, and Monasterio joined in 2008, according to BrokerCheck.<\/p>\n
The team, which was producing about $4.7 million in revenue, will be based in Merrill\u2019s Desert Mountain Market and led by Market Executive Elaine Darnell.<\/p>\n
Vazquez started his career at Dean Witter Reynolds in 1983, whereas Monasterio started at A.G. Edwards in 2002, according to BrokerCheck.<\/p>\n
The move adds to the number of advisors overseeing a combined $1.8 billion that Merrill said earlier this week had joined from Morgan Stanley, Truist and Wells Fargo<\/a>.<\/p>\n Merrill\u2019s wins come as it ramps up advisor recruiting efforts. The firm has reportedly seen the largest net losses among advisors this year through Aug. 13 at 552, according to the most recent data from Wolfe Research<\/a>.<\/p>\n