Merrill Lynch Global Wealth Management Australia is looking to rebuild its private client advisor teams after undergoing a restructure, according to InvestorDaily.com.

The group was aiming to hire another 15 private client advisors in the next three to six months and was specifically looking to expand its operations in Melbourne, MLGWM Australia and New Zealand managing director Chris Selby said, according to the publication.

After a period of consolidation, which involved the amicable departure of several private client advisors, Mr Selby said MLGWM had a clear picture of the strengths that clients want Merrill Lynch to offer.

"Wealth advisory for MLGWM is really about providing relevant strategic asset allocation strategies," he said.

The ideal number of advisors for MLGWM was 40-50, Selby said. MLGWM's current headcount sits at around 30.