Smith Barney lost 539 brokers through a combination of layoffs and poaching during the first seven weeks of 2009, according to a source. It’s shaping up to be another challenging quarter for Smith Barney as the firm continues to lose reps and advisers at a blistering pace.

Over the first seven weeks of 2009, New York-based Smith Barney saw 539 brokers leave, according to a source outside the firm with knowledge of the departures. That translates into 77 brokers leaving each week from Jan. 1 to Feb. 19.

The departures include a range of financial pros, from trainees and rookies who were let go by the firm to veteran producers recently recruited by rivals, the source said. Big winners include rivals such as Wachovia Securities and UBS Financial Services Inc., who picked up 115 and 113 advisers, respectively.
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