Big Merrill Lynch Team Jumps to UBS

- Advertisement -

A large Merrill Lynch advisory team that oversaw $1.3 billion in client assets has quit

- Advertisement -


- Advertisement -

According to the team’s new employer.

The seven-person team, which includes several longtime Merrill Lynch advisors, joined UBS’s private wealth management office in Chicago, the company said. The team is led by consultants Pat Coyle, John Schmidt and Jean Beaudoin.

Coyle, Schmidt and Beaudoin Wealth Management Group

- Advertisement -

Photo illustration by the Baron’s advisory staff; Courtesy of Business Wire

According to BrokerCheck, a public database maintained by industry self-regulator FINRA, Cuckoo and Beaudoin had worked at Merrill Lynch since 1987. Schmidt, a consultant since 1997, joined Merrill Lynch

Morgan Stanley

In 2003, according to BrokerCheck.

UBS said its team provides advice to ultrahigh-net-worth individuals and families.

Also moving forward with the team are consultants Michael Schodroff, senior customer service associate Anthony Dubos, and senior wealth strategy associates Jill Godoy and Ivy Leggero.

According to the company’s first-quarter earnings report, UBS laid off 6,199 advisors in its Americas wealth management business and had $1.772 trillion in assets as of March 31.

A representative for Merrill Lynch was not immediately available for comment on the team’s departure. In recent years the firm has lost some teams with large assets under management. Last month, the conglomerate, which manages more than $1.3 billion, left Merrill to join Rockefeller Capital Management. Earlier this year, top-ranked mentor Brent Hablutzel and his team left to join Rockefeller in Greenwood Village, Colo.

Credit: /

- Advertisement -

Stay on top - Get the daily news in your inbox

DMCA / Correction Notice

Recent Articles

Related Stories

Stay on top - Get the daily news in your inbox