Advisor Moves · Merrill Lynch · Recruiting
Merrill Recruits $13 Billion Morgan Stanley Institutional Team
Merrill Lynch recruited a six-advisor Morgan Stanley team overseeing $13 billion in institutional assets in the Boston area, according to an AdvisorHub report.
By Advisor News Network
July 8, 2026
3 min
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Merrill Lynch recruited a six-advisor Morgan Stanley team overseeing $13 billion in institutional assets in the Boston area, according to an AdvisorHub report.
The group includes Alfred J. Hammond, Matthew P. McLaughlin, Anthony F. Mancini, Peter J. Ciovacco, Scott K. Tobey and Michael W. Egan, along with eight support staff. They joined Merrill's private wealth division, which serves wealthy individuals and institutional clients.
The advisors had been part of Morgan Stanley's Graystone Consulting business in Middleton, Massachusetts. Graystone works with pensions, nonprofits, unions, healthcare organizations and family offices.
Institutional consulting teams traditionally have attracted less recruiting interest than conventional wealth-management practices because their client relationships are considered more closely connected to the firm and therefore harder to transfer.
Still, wealth managers have increasingly focused on institutional and workplace businesses as a potential source of relationships with executives and other wealthy individuals. Merrill has also been rebuilding its experienced-advisor recruiting operation and recently hired Morgan Stanley and UBS teams overseeing $1.5 billion and $460 million, respectively.
TagsMerrill LynchMorgan StanleyBank of AmericaGraystone ConsultingInstitutionalRecruitingBoston
