By Andrew Welsch

Wells Fargo Advisors, the bank's brokerage unit, recruited a former UBS advisor team that oversaw $1.6 billion in assets under management, the company said.

The team, Broadleaf Wealth Management, is composed of several longtime advisors and joined Wells Fargo in Los Angeles. The group includes advisors David Tannenbaum, his father Edward Tannenbaum, Robert Zeiger, and David Justman. Also moving with them are support staff Sam Callari, Rose Faranal, Mike Tavitian, Vidal Torres, and Ty Cremer. The team generated $10.8 million in annual revenue, according to Wells Fargo.

David Tannenbaum is an industry veteran with 27 years in the business. He was registered with UBS from 2015 until joining Wells Fargo Advisors last week, according to BrokerCheck, a public database maintained by industry self-regulatory organization Finra. Prior to UBS, Tannenbaum was registered with J.P. Morgan Securities.

Zeiger, a registered rep since 1986, has past work experience at J.P. Morgan and Merrill Lynch, according to BrokerCheck. Justman has been in the industry since 1976, according to BrokerCheck. He did stints at UBS, J.P. Morgan, Merrill Lynch, and PaineWebber.

Edward Tannenbaum started his career at Hayden Stone in 1969, according to BrokerCheck. For 32 years, he was registered with J.P. Morgan Securities before joining UBS in 2015.

Like some of its main competitors, Wells Fargo ceased disclosing advisor head count for its U.S. brokerage unit. The unit had $2.3 trillion in client assets at the end of the fourth quarter.

UBS' Americas wealth unit, which includes operations in Canada and Latin America, had approximately $2.1 trillion in assets and 5,968 advisors.

Write to Andrew Welsch at andrew.welsch@barrons.com

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February 10, 2025 11:53 ET (16:53 GMT)

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