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Wells Fargo attracted a team of long-time financial advisors UBS on the east coast, according to dispatches.

Led by brothers Andre Perry and Todd Perrythe team oversees a total of more than $2.6 billion and joins Wells Fargo in Short Hills, New Jersey, as Margate Wealth Managementwrites Barron.

The Margate team, which also includes advisors Heather Molin and Matthew Giugliano and customer performance analysts Marc Franciotti and Ashley Leflergenerated a total of nearly $17 million at UBS, according to the publication, which cites data provided by Wells Fargo.

The advisers parted ways with a larger 14-person team managing $5.6 billion at UBS, Barron’s writes, citing Wells Fargo.

Andrew Perry said his team chose Wells Fargo for its “broader and more robust commercial lending and investing platform,” according to the publication.

Andrew Perry began his career in financial services in 1987, when he signed up for Thomson McKinnon Securities, according to BrokerCheck. After stops at Merrill Lynch, German Bank and three other companies he joined UBS in 2008, per BrokerCheck.

Todd Perry registered for the first time at Lehman Brothers in 1997, according to BrokerCheck. He also worked at Merrill Lynch and Deutsche Bank before joining UBS in 2008, through BrokerCheck.

Wells Fargo ended September with a total of 12,011 financial and wealth management advisors, down 4% year-over-year.

But Sol Gindihead of Wells Fargo Advisors, told Barron’s last week that the company’s new compensation plan had been adopted for 2022 – and would remain virtually unchanged for next year – contributed to attrition.

Wells has successfully landed several top advisers in recent weeks, including a team overseeing more than $580 million at JP Morgan in September, according to the publication.

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