Wells Fargo picked up two advisors who managed more than $1.1 billion in combined client assets while at UBS, a spokeswoman said.

Advisors Rick Blosser and Ryan Reeder joined Wells Fargo as a team in Los Angeles, where they will operate from an office in the city's Westwood section.

They serve wealthy families, foundations and endowments.

"Our choice to join Wells Fargo Advisors was decided after much consideration and serious examination of the prevailing trends in the wealth management industry," Reeder said in a statement.

He added that the wirehouse had "the most client-centric wealth management best practices we had seen in the industry."

The firm said that the duo will have access to products and services offered by Wells Fargo Private Bank and Abbot Downing.

Paul Vannuki, complex manager for the wirehouse's Westwood/Beverly Hills complex, said that the addition of Blosser and Reeder "speaks to the culture of our firm and its capabilities."

Blosser joined UBS from Morgan Stanley in 2008, according to FINRA BrokerCheck records. He had been with Morgan Stanley since 1992.

Reeder joined UBS in 2007, BrokerCheck records show. Previously, he worked at Deutsche Bank.

A UBS spokesman said the firm does not comment on departures.

Wells Fargo also announced the addition of a Morgan Stanley team that managed $322 million in client assets. Advisors Robert B. Krut and Michael A. Klein joined the wirehouse in Birmingham, Mich., a suburb of Detroit.

Krut and Klein had been with Morgan since 2008, BrokerCheck records show. Previously, they worked at UBS.

Also moving with the team to Wells Fargo are financial consultant Lawrence Berke and senior registered client associates Brandon Mudloff, Dana DiVergilio and Steven Gretchko.

A spokeswoman for Morgan Stanley could not be reached for comment.

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