Stockbroking and wealth management firm Shaw and Partners has picked up another five advisers who together managed assets worth about $750 million.

It is understood Shaw has hired Mike Pilkington and Garth Jeffery from Commonwealth Bank of Australia's private bank, based in Perth, and Fraser MacLeod who worked at Morgans and was based in Adelaide.

The trio is joined at Shaw by long serving Macquarie Private Wealth advisers Lee Scott and Sergio Porfirio. It is understood the five advisers are due to start with Shaw this month.

Shaw notified staff just prior to the Christmas break, sources said.

It comes as Shaw has aggressively grown its team of advisers in the past three years, to take its assets under advice to $16 billion from $6 billion.

The rapid growth has come under the direction of former Macquarie executive Earl Evans and long-time Shaw boss Allan Zion, who are joint CEOs. More than 50 Macquarie advisers are understood to have joined Shaw in the past three years, which would make it one of the biggest beneficiaries of the exodus at Macquarie.

Source: AFR, 8 January 2019  https://www.afr.com/street-talk/five-more-advisers-shift-to-shaw-20190107-h19sif