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"[People] don’t expect retirement to begin with social security and sit on the back deck in a lounge chair for the rest of their lives. This group really wants to remain active."

Jeff Cimini, head of personal retirement at Merrill Lynch

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Bank of America's Merrill Lynch has hired two private wealth advisors from Abbot Downing, Wells Fargo's  ultra high net worth wealth arm.

Westcott Jones and Scott Vogel oversaw more than $1 billion in client assets for Abbot Downing. They joined Merrill Lynch's private banking and investment group in late July.

The pair had been a part of Lowry Hill, a boutique wealth management firm that merged with Wells Fargo's family wealth business in April to form Abbot Downing. Lowry Hill had previously been a separate subsidiary of Wells.

The two advisors, based in Wayzata, MN, joined the team of Swenson Jones & Associates, a part of Merrill Lynch's private banking and investment group, which serves ultra high net worth clients.

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