Morgan Stanley Smith Barney has hired four new financial advisors from Bank of America Merrill Lynch and RBC Dain Rauscher.
In Cedar Rapids, Iowa, Thomas Anderson and Jon Bancks joined from Merrill Lynch on Sept. 29. Together, they operate under the name Anderson Group, and previously oversaw $274 million in client assets and had $2.5 million in annual fees and commissions.
Anderson had been registered with Merrill Lynch since September 2002, according to his registration records with the Financial Industry Regulatory Authority, and had also previously worked at A.G. Edwards & Sons Inc.
Bancks was registered with Merrill Lynch from August 2006, FINRA records show.
Anderson and Bancks report to West Des Moines Branch Manager Scott Frost.
In Houston, Lawrence Gift Jr. and Hugh Hamilton, the Gift Hamilton Team, joined from RBC on Sept. 29. Together, they previously had $259 million in client assets under management and $1.18 million in annual fees and commissions.
Gift had been registered with RBC from October 2004, according to his registration records with FINRA, and also previously served at Wachovia Securities, CIBC World Markets and Prudential Securities.
Hamilton had also been with RBC since October 2004, FINRA records show, and was registered with Wachovia Securities before that.
Gift and Hamilton report to Houston-Galleria Complex Manager Matt Kabot.