Merrill Lynch has recruited three financial advisor practices away from rivals in the wealth management space. The advisors, who joined Merrill from Morgan Stanley, Truist, and Wells Fargo, oversaw more than $1.7 billion at their former firms.

The largest of Merrill's recent recruits is the Aliaskari Group in the affluent Washington suburb of McLean, Va. The team, which serves high- and ultrahigh-net-worth clients, includes Mahrak Aliaskari, a Certified Financial Planner and 23-year industry veteran. Also joining Merrill in the move are Corinne Heiberger, a private wealth manager, and financial advisor Frank Vorndran. The team oversaw $1.2 billion in client assets at Morgan and produced $5.8 million in annual revenue.

Aliaskari, who is dually registered as a broker and investment advisor, began his career with Merrill Lynch in 2003 before jumping to Morgan Stanley in 2012. He returned to Merrill on Sept. 3, according to registration records. Merrill announced the move on Tuesday.

Heiberger first registered with Morgan Stanley in 2015. Merrill says that Vorndran began his career with Morgan Stanley in 2010. Registration records indicate that he began working as a broker and advisor with Morgan in 2011. The team also includes Christopher DeFalco, a private wealth client associate.

Morgan Stanley declined to comment on the departure.

The moves are a reminder that competition for wealth management talent is fierce, with high-performing advisors routinely moving from one rival firm to another. Just days before Merrill's announcement, UBS heralded the addition of three advisory teams from Morgan Stanley and Merrill, where they collectively oversaw $2.6 billion.

The second recruiting win Merrill announced this week was advisor Dylan Price from Truist, in Charlotte, N.C. Price oversaw about $300 million in assets and generated annual revenue of $1.9 million at Truist, which didn't immediately respond to a request for comment on the move.

Price first registered as a broker in 2016 with BB&T Securities, which merged with SunTrust Banks in 2019 to create Truist.

Merrill also this week announced the addition of Ronnie Murad, who joined from Wells Fargo, where he oversaw about $285 million in client assets and produced $1.5 million in annual revenue. Nichole Olive, a client associate, also joined Merrill from Wells Fargo, which declined to comment on the departure. The practice is based in Charleston, W.VA.

Murad first registered as a broker with Alex. Brown in 1981 and went on to have stints with firms such as Citigroup and BB&T before joining Wells Fargo in 2018.