UBS says it has poached two Merrill Lynch financial advisors in the Greater Los Angeles area.
Carl Ceder has joined UBS in Sherman Oaks, and Rachel Cain joins the firm in Westlake Village, according to UBS.
Ceder has been in the industry since 1986 and had been with Merrill Lynch since 2002, according to BrokerCheck. He offers advice on asset allocation, portfolio management and alternative investments, UBS says.
Cain started her finance career in 1996 and joined Merrill in 2000, according to her BrokerCheck profile. She specializes in asset allocation, estate planning, long-term care and transition events, as well as overseeing concentrated stock positions and offering clients access to commercial banking and financing strategies, UBS says.
Assisted by client service associate Diana Dell, the advisors manage a total of $368 million, according to the company.
UBS said earlier this month that it also lured a Merrill Lynch financial advisor overseeing more than $500 million in Sherman Oaks.
UBS’ Americas unit had 6,139 advisors at the end of June, down from 6,199 at the end of March.
The total number of wealth advisors at Bank of America, which includes those at Merrill Lynch, BofA Private Bank and consumer banking, dropped to 18,449 at the end of June, down from 19,385 at the end of June 2021.