A Merrill Lynch team that managed $250 million in client assets has moved their practice to Morgan Stanley, according to the firm.
Vivan Lin and Han Lin of the Lin Group will now operate out of Morgan Stanley's office in Pasadena, Calif. Despite having the same last name, the advisers are not related, a firm spokeswoman says.
The team generated $2 million in annual revenue at the time of their departure from Merrill, according to Morgan Stanley. Eva Choi, the group's assistant, also came along in the move, the spokeswoman confirms.
The team will now report to Complex Manager Cynthia Newman, the firm says.
After launching her career with E-W Investments in 1989, Vivian Lin took a position a year later with Merrill Lynch in Pasadena, Calif., according to FINRA BrokerCheck records.
Han Lin worked for Concord Brokerage and U.S. Pacific Financial before joining Merrill Lynch in 1999, BrokerCheck records show.
Vivian Lin and Han Lin joined Morgan as international client advisers. They had worked in a similar capacity while at Merrill. In 2015, the wirehouse announced efforts to refocus on international wealth management, according to the Wall Street Journal.
A Merrill spokeswoman confirmed that Lin Group is no longer with the firm.
Morgan Stanley recently hired a UBS team that managed roughly $378 million in client assets in Mt. Laurel, N.J.