Morgan Stanley Smith Barney has hired a two-member Wells Fargo Advisors team in Red Bank, N.J.
Lawrence Durso and Kris Frazier previously oversaw $280 million in client assets and had $2.16 million in combined annual fees and commissions. They report to Morgan Stanley Smith Barney Complex Manager Chris Shaw.
Durso and Frazier have been registered with Morgan Stanley Smith Barney since Sept. 22, according to their public registration records with the Financial Industry Regulatory Authority.
Durso had been registered with Wells Fargo since July 2003, according to FINRA records, and was with Prudential Securities Inc. before that from April 1984.
Frazier also joined Wells Fargo in July 2003, FINRA records show, and was previously with Prudential Securities starting from February 2001.